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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Four Comments and a Suggestion for the World Bank Board

Last week the World Bank Board closed the three-week window, announced in late August, for member countries to nominate candidates for the presidency of the World Bank. Jim Kim, the US nominee and incumbent since his election in 2012, was formally nominated by the United States at 12:01 a.m. at the opening bell, so to speak. He is the sole candidate in what appears to have been a kind of insider coup by the United States (called a “charade” in a World Bank Staff Association letter to its members) of the procedures agreed by World Bank members in 2011.

Five Women Who Could Lead the World Bank

Last week the World Bank announced the process for choosing the next president of the organization. Minutes after midnight on the first day nominations were to be accepted, the US formally nominated the incumbent Jim Kim. Other nominations are possible in what is, allegedly, an “open, merit-based, and transparent” process, but which will only be “open” for three weeks. Here are five women who could ably lead the World Bank.

Excuse Me, World Bank, This Time Is Last Time’s Next Time

Historically the World Bank’s President was nominated by the USA and that person was then approved by the World Bank’s Board (and in a reciprocal agreement Europe nominated the head of the IMF).  Now, discussions have begun “over how and whether to reappoint” Jim Yong Kim, when his first term ends next June. I agree with the World Bank Staff Association that we need to be able to have confidence in this process.

New Approach to Managing Environmental and Social Risks in World Bank Programs

On Thursday, August 4, the World Bank’s Board of Executive Directors approved a new “Environmental and Social Framework” for bank-financed investment projects. While the new policy framework has cleared the hurdle of Board approval, many questions remain. Will the new framework succeed? Will it enhance country capability and commitment to managing environmental and social risks? And will it reduce the bureaucratic hassles associated with bank lending and bolster demand?

Doing More than Safeguarding the Safeguards at the World Bank

Depending on who you listen to, the World Bank has either just launched an unprecedented reach into the domestic political affairs of sovereign nations, or it has gutted the rules that have helped define its essential character as a global norm-setter. Both can’t be right, and most likely, neither is. To better understand the objectives of the bank's newly adopted “safeguards” regime, and why I’m somewhat encouraged by it, it’s worth looking more closely at the arguments of critics on both sides.

What About Gender Equality as a Public-Sector Priority?

We at CGD recently hosted a series of events illuminating the case for smarter gender policy in the private sector, a triple win that would benefit consumers, firms, and emerging economies. Change in private firms is important — but what about the world’s public sector? To create more opportunities for women and create valuable spillover effects, we might start with central banks.

Doing the Math on AIIB Governance

The Asian Infrastructure Investment Bank’s new articles of agreement contain a great deal of information about shareholding and governance in the new institution. However, the articles require some additional analysis in order to answer key questions about voting power and board composition. Based on the information provided, we are able to generate voting shares as well as some preliminary conclusions about the composition of the AIIB’s board of directors.

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