Ivanka Trump will help manage the U.S. candidate for President of the World Bank.
Ivanka Trump will help manage the Trump administration’s selection of a U.S. candidate for the position of World Bank Group president, a White House official said on Monday.
Treasury Secretary Steven Mnuchin and White House Chief of Staff Mick Mulvaney “have asked Ivanka Trump to help manage the U.S. nomination process as she’s worked closely with the World Bank’s leadership for the past two years,” the official said.
Ivanka Trump has worked with the World Bank and departing President Jim Yong Kim over the past two years, jointly launching a $1.6 billion women’s entrepreneurship fund with 13 other donor countries to raise capital for female entrepreneurs in developing countries.
The United States, which has a controlling voting interest in the World Bank, has traditionally chosen the institution’s leader since it began operations in 1946.
Kim announced his surprise Feb. 1 departure last week to join private equity fund Global Infrastructure Partners, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources.
The World Bank has said its executive board will begin accepting nominations starting on Feb. 7. It said candidates should be committed to implementing the bank’s 2030 development objectives and reforms under the 2018 capital plan.