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Emerging Nations Add New Pressures to the World Bank Race

Angola, Nigeria and South Africa – usually at odds – have endorsed the nomination of Nigerian Finance Minister, Ngozi Okonjo-Iweala, a respected economist and diplomat, as a candidate to take over the World Bank when Robert Zoellick steps down in June.

The United States has held the World Bank presidency since its inception and President Obama has nominated a surprise candidate for the job – U.S. academic, Dr. Jim Yong Kim. Born in South Korea, Kim is President of Dartmouth College and was Director of the HIV/AIDS Department at the World Health Organization. He also co-founded Partners in Health, which provides health programs for the poor.

Whether Kim gets the presidency, though, remains to be seen. Emerging nations are gaining power and making the acquisition of the post more challenging.