Dr Jim Yong Kim edged Okonjo-Iweala to the World Bank President Sit

Following yesterdays World Banks Presidential Election where Okonjo-Iweala was edged out by her compatriots Dr.JIm Yong Kim, President Goodluck Jonathan and Mrs. Ngozi Okonjo Iweala have in separate statements congratulated bank’s new boss.

President Jonathan restated the readiness of the Federal Government of Nigeria to continue to build on the existing cordial relationship and cooperation with the bank, and urged Dr. Kim to see his election as a challenge and a great opportunity for addressing the numerous issues of human development and poverty alleviation facing developing countries.

He also enjoined the new World Bank President to broaden the achievements of his predecessor, Robert Zoellick, and respond positively to the calls for reforms of the multilateral institution.

Mrs. Okonjo-Iweala said she looks forward to working with Dr. Kim, as well as the staff and stakeholders of the World Bank Group for the benefit of poor people around the world.  Their plight, she said, is at the heart of the mandate of the institution and “we must never lose sight of that.”

Turning to the selection process, which favoured the American candidate over her, she said, “It is clear to me that we need to make it more open, transparent and merit-based.  We need to make sure that we do not contribute to a democratic deficit in global governance.”

Despite her failure to clinch the World Bank position, Mrs. Okonjo-Iweala told Dr. Kim of the important victories that her side has won.  “We have shown what is possible. Our credible and merit-based challenge to a long-standing and unfair tradition will ensure that the process of choosing a World Bank president will never be the same again. The struggle for greater equity and fairness has reached a critical point and the hands of the clock cannot be turned back.”
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