Ivanka Trump on List of Possible Candidates to Lead World Bank

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Ogunlesi Adebayo. Pic credit BuzzNigeria

President Trump's eldest daughter and top aide, Ivanka Trump, is reportedly among a list of names submitted to the Treasury Department as a possible candidate to head the World Bank.

An unwritten agreement states that the United States, which is the bank's largest shareholder, always chooses the head of the institution since it was founded after the Second World War.

Current World Bank President Jim Yong Kim will step down from his position in January, leaving it up to Trump to nominate a replacement. When she was in the private sector, before joining the White House, she was vice president for acquisitions at the Trump Organization and she launched her own clothing line, the Ivanka Trump brand.

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Ivanka is thought to be a possibility after she was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women.

Kim was the first American nominee to face a tight election for the World Bank presidency in 2012 and the bank's board said its selection process will be "open, merit-based and transparent", implying that it does not will discard candidates who are not Americans.

"I think frankly right now people in the bank are anxious about how do we protect the institution", former senior World Bank official told the Financial Times.

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However, some pundits say that the global financial community is not prepared for a non-American nominee at the moment.

The President of the World Bank is ex officio chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). "The world has an interest in the U.S. staying engaged with the World Bank". "My instinct is that there is a very strong likelihood that the United States nominee will be approved".

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