WASHINGTON, August 23, 2016—The Board of Executive Directors of the World Bank met today under the Chairmanship of its Dean, Mr. Merza Hasan, to discuss the selection of the President of the World Bank Group, following notification from the current President, Jim Yong Kim, that he would be interested in a second term. Dr. Kim's term expires on June 30, 2017.
The Executive Directors expressed unanimous support for an open, merit-based and transparent selection, with nominations open to all member countries and transparent consideration of all candidates by the Board. The Executive Directors also confirmed that the Selection Principles approved by the Board in 2011 continue to be valid and should apply to the next Presidential selection. The principles were followed to conduct an open and transparent process in 2012, which resulted in the appointment of Dr. Kim.
According to these principles, candidates should meet the following criteria:
- a proven track record of leadership;
- experience of managing large organizations with international exposure, and a familiarity with the public sector;
- the ability to articulate a clear vision of the World Bank Group’s development mission;
- a firm commitment to and appreciation for multilateral cooperation; and,
- effective and diplomatic communication skills, impartiality and objectivity in the performance of the responsibilities of the position.
It was proposed that the nominations period open on August 25, 2016 at 12:01am (EDT). Nominations should be submitted by 6 pm (EDT) Wednesday, September 14 and may be made by Executive Directors, or by Governors through their respective Executive Director. Candidates must be nationals of the Bank’s member countries.
Following the close of the nomination process, the Executive Directors will decide on a shortlist of up to three candidates, and publish the names of the shortlisted candidates with their consent. Formal interviews by the Executive Directors will be conducted for all shortlisted candidates. Consideration of candidates will take two to three weeks.
Under the Bank’s Articles, the President of the World Bank conducts, under the direction of the Executive Directors, the ordinary business of the Bank. The President is also responsible for the organization, officers and staff, subject to the general control of the Executive Directors. The President, in the discharge of his or her responsibilities, owes a duty entirely to the Bank and to no other authority.
The President of the World Bank is chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The President is also ex officio chair of the Board of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).