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World Bank should focus on job creation: Nigerian candidate

04-10-2012 10:10 BJT

WASHINGTON, April 9 (Xinhua) -- The World Bank should deliver for the world's poor and help create jobs for countries, said Nigerian Finance Minister Ngozi Okonjo-Iweala, a contender for World Bank Presidency.

Lack of quality jobs is a common challenge for many countries across the world, and the Bank needs to step up efforts to work in partnership with other stakeholders to address key economic and social challenges facing its members, she said Monday at an event co-hosted by the Washington Post and the Washington-based think-tank Center for Global Development.

Nigerian Finance Minister Ngozi Okonjo-Iweala, a
candidate for World Bank President, delivers a
speech during an event organized by the Center
for Global Development, a Washington-based think
tank, in Washington D.C., capital of the United
States, April 9, 2012. (Xinhua/Wang Yiou)

The former managing director of the World Bank told a large group of experts and reporters that the global organization needs a shake-up to improve its efficiency and effectiveness.

"Everything we do must end with measurable results," she stressed, adding that the Bank has to be faster and deliver more quickly.

The Bank should become a leader in terms of global governance, and the bank's governance needs to fully adapt to the changing world order, noted the World Bank presidency contender, who went through a formal interview with the bank's executive board on Monday.

The 25-member executive board of the Bank was scheduled to interview Jose Antonio Ocampo, former Colombian finance minister on Tuesday, and Jim Yong Kim, a Korean-American global health expert and president of Dartmouth College, on Wednesday.

The global lending agency was poised to pick a candidate by its Spring Meetings scheduled to kick off in Washington D.C. on April 20, to replace Robert Zoellick, whose term ends at the end of June.

The World Bank, which provides loans to developing countries with an official goal of reducing poverty, has always been headed by an American since its inception after the WWII. This year's presidency selection marked the first time that an American candidate has been challenged by others from developing countries.

Editor:Wang Lingfei |Source: Xinhua

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