Candidates gear up for World Bank deadline

23 March 2012

Candidates from around the world are readying themselves for the nomination deadline regarding the World Bank presidency.

Despite the US providing the head of the institution since it was founded in 1944, it is expected that leading figures from other countries - and especially emerging nations - will throw their hat into the ring this time around.

The BBC reports that Nigerian finance minister Ngozi Okonjo-Iweala has the backing of Nigeria, South Africa and Angola, while Jose Antonio Ocampo, the former finance minister of Colombia, is also expected to be put up for the role.

Indeed, Brazil appears to have lent its backing to the nomination deriving from an emerging nation, as it described both Ms Okonjo-Iweala and Mr Ocampo as "great" candidates for the position.

However, it is anticipated that the next president will once again be provided by the US, with ex-White House advisor Lawrence Summers and Pepsi boss Indra Nooyi - who was named president and chief executive officer of the brand in 2006 - likely to be in the running.

By Gary Cooper

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