Ivanka Trump reportedly being considered to head World Bank

  • Ivanka Trump reportedly being considered to head World Bank

Ivanka Trump reportedly being considered to head World Bank

"A World Bank president chosen by the Trump administration could, in particular, try to limit its financing of projects meant to tackle climate change, as well as any work that is seen as supporting the building of Chinese infrastructure", the report said.

The Financial Times reported that Trump's daughter Ivanka Trump is being considered for the role.

Ivanka Trump's previous business experience includes her work with the Trump Organization and managing her own lifestyle and fashion brand.

A spokesperson for the Treasury Department said they had received a "significant number of recommendations" and had no comment on potential candidates.

However, some pundits say that the global financial community is not prepared for a non-American nominee at the moment. "We look forward to working with the governors to select a new leader".

An unwritten agreement states that the United States, which is the bank's largest shareholder, always chooses the head of the institution since it was founded after the Second World War.

But the success of a U.S. candidate no longer appears completely assured.

The World Bank Group's executive directors have yet to settle on a candidate to replace the outgoing president, who will depart the development lending organisation in three weeks to join a New York-based investment firm.

The member states of the World Bank, however, have to elect the nominated candidate, which is why most American presidents have chosen uncontroversial nominees.

The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.