African countries under the aegis of the African
Union Commission (AUC) on Monday
formally endorsed the candidacy of Nigeria’s Finance Minister, Dr. Ngozi Okonjo-Iweala for the
post of World Bank President.
In a communiqué on Monday, the Commission predicated the continent’s support for Dr Okonjo-Iweala on her impeccable credentials in global economic management which stands her out as perhaps the most qualified for the plum job.
In a communiqué on Monday, the Commission predicated the continent’s support for Dr Okonjo-Iweala on her impeccable credentials in global economic management which stands her out as perhaps the most qualified for the plum job.
AUC's support reinforces the decision of African
Ministers of Finance, Planning
and Economic Development, who, at their meeting today in Addis Ababa, endorsed her as Africa's
sole candidate for the Presidency of the World
Bank, the Commission stated. The Commission noted that the challenge of addressing
development in today's
complex world requires a multi-sectoral expertise which Okonjo-Iweala
who is Africa’s sole candidate for job posses. Here is the full excerpt of the communiqué issued in
Addis Ababa, Ethiopia:
“The African Union Commission (AUC) attaches
great importance to the on-going selection exercise for the next
President of the World Bank and is happy
to note the commitment to an open, transparent and merit-based process. “The World Bank is the premier global institution that provides support
to Developing Countries,
and is a major player in addressing wide-ranging global development issues. It is
therefore an institution of great importance to Africa, and has been a principal
partner in assisting the continent's socio-economic transformation, consistent with its core mission. “The crux of development issues in the world today
really resides in Africa, and
therefore, the success of the World Bank in achieving its mandate will be judged, to a large extent, by
its accomplishments on the continent. It will also
be judged by the degree to which it is able to complement its lending and technical assistance and advisory activities with facilitation
support for knowledge
sharing among developing countries, through effective South-South
exchanges to tackle issues of common interest. Finally, the AUC believes that an effective
World Bank must continue to play a proactive role, jointly with other partners, in tackling global economic growth and
financial stability issues
in a volatile and uncertain world, as well as provide leadership in the domain of global public
goods, such as environment and climate change.
For this purpose, the World Bank needs to have at its helm someone with deep knowledge, broad experience and expertise in a wide range of development issues. It
also needs someone who has proven capable,
over the years, of working effectively both at the local, national and international levels, and in
connecting the different parts to foster synergy and complementarities.
“The AUC is pleased to note that Africa has such
a nominee in the person of Dr.
Ngozi Okonjo-Iweala, who possesses undisputed credentials in terms of her technical and managerial
expertise, as well as a strong track record as a development professional, both
inside and outside the World Bank. Dr. Okonjo-Iweala
has spent more than two decades in the World Bank, rising through the ranks to the top management level as Managing Director. At
the same time, she brings
on board a rich experience of managing a very complex
economy. As Minister of Finance for Nigeria ? Africa's most populous country, she has
demonstrated capacity to successfully drive
reforms, having dealt effectively with a variety
of issues. In her recent expanded
role as Coordinating Minister for the Economy, she has also been adept in managing
cross-sectoral issues, ranging from agriculture to health, education and infrastructure.
On another level, Dr. Okonjo-Iwealahas honed
her diplomatic skills as Nigeria's Minister of
Foreign Affairs during the course of
her career. “She has worked
extensively on Africa, but she combines this with experience of handling Emerging
Economy/Middle-Income country issues across
the globe, having had deep involvement with World Bank's work program and other initiatives
in East Asia, South Asia, Central Asia, Middle East and North Africa. She has also led numerous initiatives of the
World Bank, including the
Global Food Price Crisis Response Program, the Global Agricultural and Food Security
Program, the South-South Knowledge Exchange
Program, and the Stolen Assets Recovery (STAR) Initiative. Dr. Okonjo-Iwealais
also globally known for her work on gender issues, focusing on economic empowerment of
girls and women, for which she has won global recognition.
She has earned tremendous respect and credibility working with major shareholders of the World
Bank in different capacities, who acknowledge
her deep passion for development and strong drive for results. As Chair of IDA 16
Replenishment under World Bank's President Zoellick, she led negotiations that
culminated in the contribution of $49.3 Billion by donor countries to assist the poorest countries.
“The challenge of addressing development in
today's complex world requires a
multi-sectoral expertise. It requires a demonstrated ability to draw on knowledge, expertise and
experience in a wide range of areas, and to manage
the interplay of these. Dr. Okonjo-Iweala's impeccable credentials, including depth and breadth of
knowledge, rich and varied experience, make her
eminently qualified and the best candidate for the post of World Bank President. She epitomizes the
kind of visionary leadership, courage and innovation needed for the Bank
today. She will hit the ground running in leading
the Bank. The AUC, on behalf of African countries, is pleased to endorse Dr. Ngozi
Okonjo-Iweala's candidacy in the strongest possible terms. “AUC's support reinforces the decision of African
Ministers of Finance, Planning
and Economic Development, who, at their meeting today in Addis Ababa, endorsed her as Africa's
sole candidate for the Presidency of the World
Bank”.
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