World Bank: Developing Countries Representation Confounds Kim

World Bank President, Jim Yong Kim, last week in Abidjan, said the issue of balanced representation of developing countries on the Board of the Bank remained a “complicated discussion.’’

Developing countries, especially Africa, have been yearning for more voice in their representation at the World Bank which had put them at disadvantage, especially in gunning for leadership positions.

Kim, on his way to South Africa after two-day visit, told newsmen at the Ivorian International Airport that the issue would soon be discussed by the Bank’s Governors.

“The World Bank governors are usually Finance Ministers and the Central Bank Governors of the member countries,” he said.

According to him, it is a very complicated discussion and one that the governors of the World Bank will take up in the next few years.

“There is no way that the bank can be successful without a strong voice of African countries and the underdeveloped countries,” he added.

Kim, however, said aid to Africa had been more effective, adding that its effectiveness was critical to the World Bank.

He said the aid effectiveness meant greater benefit for the poorest people and congratulated former president of the World Bank, Robert Zoellick for emphasising it.

Reports say that Zoellick was the World Bank president before Kim was elected in May, 2012.

Kim was elected in a keenly contested race with Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, who was a former World Bank Managing Director.