BENGALURU, Feb 26 — US Treasury Secretary Janet Yellen said on Saturday that she believes the strong qualifications of the US nominee to lead the World Bank, ex-Mastercard CEO...
BENGALURU, Feb 26 — US Treasury Secretary Janet Yellen said on Saturday that she believes the strong qualifications of the US nominee to lead the World Bank, ex-Mastercard CEO Ajay Banga, will overcome any criticism of the selection process.
“We’ve taken this very seriously and tried to identify a candidate that we think brings the right skill set to this job,” Yellen said. “And we hope that our candidate will be broadly accepted in both lending countries and borrowing countries.” As the World Bank’s largest shareholder with 16.35 per cent of its voting power, the United States wields strong influence over the bank’s policies, and the lender’s president works closely with the Treasury Department.
Yellen is pressing the World Bank to refine a package of sweeping reforms aimed at vastly expanding its lending resource and mission to tackle climate change and other global challenges.
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