The World Bank’s Board established as its third criterion ”the ability to articulate a clear vision of the World Bank Group’s development mission.”
It’s not a prospective candidate’s fault they have to do it: the Board’s word salad Forward Look strategy, and the IBRD/IFC capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper would challenge a Kennedy, an Obama, and even a Churchill. A PowerPoint would be so long with small-font slides that Donald Trump would go back to watching FoxNews.
“Our Dream is a world free of poverty” was a clear message Jim Wolfensohn used to inspire the Bank and its partners. Eventually its sentiment became the headline of both the MDGs and SDGs, and the first goal of each. Freeing the world of poverty has inspired development practitioners, official development agencies, and civil society organizations. Dr Kim’s Twin Goals embraced and expanded the poverty eliminated goal. But the expanding shared prosperity lacked the clarity of meaning, and inspired little agreement on how, so that the “Twin Slogans” got little traction as a lodestar with practical actions attached. Various attempts to be practical, like “Cascade” were advanced, but haven’t won universal favor. Dr Kim’s Human Capital Index was another framing, and reflected (some) research and his own proclivities and comfort zone. Inside the Bank, there’s resentment about yet another framework for client dialogue. The Bank’s external critics have seized on it as abandoning a rights-based approach, obscuring long-standing critiques of Human Capital Theory (HCT) and its notion of ‘capitalisable humans’, seeking to shame, and ignoring income inequality within a country. Continue reading
Last weekend, tens of thousands of feminist demonstrators rallied in solidarity at women’s marches across the world. The annual march, which was originally a response to Trump’s election, this year comes amidst an entirely different presidential race – for the World Bank President.
Unlike the IMF, the WHO and the OECD, the World Bank has never had a woman in the top job, or a non-American for that matter. It really puts the “men” in gentlemen’s agreement. Strange that an organisation that purports to advance gender equality worldwide has yet to manage it in its own HQ.
Reports that self-proclaimed “advocate for the empowerment of women and girls” Ivanka Trump is involved in the selection process is hardly cause for feminists to pack up our banners. In fact, perhaps mobilising against this could even serve as our next rallying cause. Truly, patriarchy has no gender.
This is not Ivanka’s first collaboration with the Bank. Her Women Entrepreneurs Finance Initiative (We-Fi), a financial intermediary facility housed and managed by the Bank, aims to leverage private finance to increase access to finance for women entrepreneurs in small and medium sized enterprises. Continue reading
As the deadline for nominees approaches, now less than 48 hours away, how can one take stock of a flawed process to make a flawed candidate win?
The United States behaved furtively in the heat of August to push through a hasty process when many Executive Directors and senior shareholder officials were on leave. Caught out by the Staff Association and international media (the FT, the WSJ and CNNI’s Quest on Business), Treasury forged ahead with its plan to have Dr Kim reappointed before the Annual Meetings, 10 months ahead of the end of his term. Shortly after midnight the very day the three-week nomination period opened, Treasury nominated him by email.
Preempting other candidates with this show of force, Treasury then twisted a few more arms, with calls to their World Bank counterparties in various countries, including Pakistan. China, Germany, Japan and France fell in line, as did the UK’s new, green Secretary of State for DfID, with Canada acquiescing in a throwaway remark by its Finance Minister at a G20 presser.
It is no secret in Washington that Treasury Secretary Lew is no fan of Dr Kim, so despite the formal role his office plays in the nomination, all fingers point to the White House. Rewarding golfing buddies is not exactly President Obama’s style, but the fait accompli is nearly done. Continue reading
That 66th birthday month of his, March 2012, was auspicious for adding a little spice to his dreary life, but no, it just can’t last. Born in March 1946 alongside his evil twin, IMF, in Savannah Georgia, after conception in what must have been a rather sleazy New Hampshire hotel (the ‘Bretton Woods’) in mid-1944, the old geezer known as the International Bank for Reconstruction and Development, or much better by his nickname World Bank (but let me just use WB), really ought to be considering retirement. Continue reading
President Obama has a historic opportunity to help reform the World Bank, by nominating development expert Jeffrey Sachs to be the World Bank’s next president. Sachs has said that as president he would sharpen the focus of the Bank on achieving the Millennium Development Goals for reducing poverty and extending access to health care and education. Coming from Sachs, this pledge is “change you can believe in,” because for years Sachs has a leading international advocate of efforts to achieve the world’s poverty reduction goals, currently serving as an adviser to UN Secretary General Ban Ki-moon. Continue reading