To many, Kim's emergence trashed merit and competence, and enthroned nepotism. With America's might and anointing on Kim, the result was out before the voting. But the media, the world especially the developing nations, were agog and thumbed for Ngozi. She lost gallantly. But the world has learnt a lesson: who backs you up signposts your success or failure. You can't be nominated by America and lose to a third world nominee even if you are a world-class economist like Ngozi.
So, when the result was announced last week that she lost to United States' anointed candidate, Dr. Kim, there was not so much expression of disappointment and anger. Although her chances, weighed against her qualification and experience were bright (she was even endorsed by UK-based Economist Magazine), the politics of who heads the world bank cut her out.
Gains and lessons from a loss
She lost out gallantly and even made a point in the process. It was the first time in the World Bank's history that the United States' hold on the position was challenged. Okonjo-Iweala congratulated Kim and said the competition had led to "important victories" for developing nations, which have increasingly pushed for more say at both institutions. Still, she said more effort was needed to end the "unfair tradition" that ensured Washington's dominance of the global development lender.
"It is clear to me that we need to make it more open, transparent and merit-based," Okonjo-Iweala said. "We need to make sure that we do not contribute to a democratic deficit in global governance."
However, the decision by the World Bank's 25-member board was not unanimous, with emerging economies splitting their support. Brazil and South Africa backed Okonjo-Iweala, while three sources said China and India supported Kim.
The United States has 16% of the world bank voting power, Europe has 29% and Japan has 9%. The Nigerian political influence in the world bank is so irrelevant to the extent that there is no Nigerian executive director on the board. The choice of Jim was, in addition to United States and European votes, attracted solidarity votes from Asia. The candidate that becomes the world bank president needs 51% of the votes to win and considering the powers behind Kim, it was obvious he had won even before the elections.
Nancy Birdsall, president of the Washington-based Center for Global Development, said it would be healthy if countries made public which candidate they supported and why.
"History was made because there were three candidates," she said. "In the next round it would be good to have more transparency about which board member supported which candidate for what reason."
The United States has held the presidency since the World Bank's founding after World War Two, while a European has always led its sister institution, the International Monetary Fund.
Jim Yong Kim
Dr. Kim won the support of the 25-member Board of the World Bank on 16 April, following a first-ever open and unusually fierce public challenge from two other candidates from Nigeria and Colombia, Ngozi Okonjo-Iweala and Jose Antonio Ocampo, former Colombian finance minister who withdrew from the race for the top World Bank post before the elections, saying the process had become highly political.
Kim brings to the job a unique mix of skills and experience. A global health expert and practitioner, he built an impressive track record of saving lives in the poorest and most difficult settings, by finding innovative solutions, using rigorous data and field-based trials, and bringing together critical partners to deliver results. His work on HIV/AIDS has won global acclaim and praise. The appointment by the Obama Administration was greeted with a bit of a surprise, as the top job at the Washington-based Bank has in the past gone to high-profile Washington insiders, diplomats, economists or Wall Street executives.
On March 23, 2012, President Barack Obama announced that the United States would nominate Kim as the next president of the World Bank. On April 16, Kim was elected to head the World Bank and will take office on July 1.
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