The White House on Tuesday, confirmed that Ivanka Trump who was previously rumoured to be a potential presidential contender of the World Bank is definitely not in the run for the post. Instead, Ms. Trump will be a part of the nomination team that is in the search for a new World Bank president.
A such, it is now clear that she would not be running for the position herself.
It is now revealed that Ms. Trump, a senior White House adviser, was asked to participate in the search for the new President by Treasury Secretary Steven Mnuchin. She was reportedly asked to take on the role because she has worked with World Bank leaders on several projects and also her financial industry credentials.
The White House in a statement said Mr. Mnuchin and White House Chief Of Staff Mick Mulvaney “have asked Ivanka Trump to help manage the US nomination process as she’s worked closely with the World Bank’s leadership for the past two years”.
The statement also dispelled rumours that the First Daughter was under consideration for the prestigious post after the Financial Times said Ms. Trump’s name had been floated as a potential candidate.
However, Ms. Trump’s involvement will still be seen as controversial by some owing to her lack of direct experience in development finance.
Jim Yong Kim, the World Bank’s current president announced that he was resigning last week. He announced the surprise departure – more than three years before his term ends in 2022, to join private equity fund Global Infrastructure Partners, amid differences with the Trump administration over climate change and demand for more development resources.
This has since sparked speculations about his successor.
And with Kim’s sudden exit, U.S. President Donald Trump will now have the chance to nominate his own choice to fill the coveted position.
Ms. Trump has worked jointly with the World Bank and President Kim, over the past two years, to launch a $1.6billion (£1.25billion) women’s entrepreneurship fund.
The leaders at the 189-nation World Bank have all been Americans, a pattern that other countries have complained about. The full-time successor will nonetheless be decided by the Bank’s board of directors.