World Bank: Selection Process for President

Lord Stern of Brentford Excerpts

Thursday 28th February 2019 Lords Chamber

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[Lord Stern of Brentford]

To ask Her Majesty’s Government whether they can confirm that nomination by the government of the United States does not constitute grounds for giving a candidate special priority for the position of President of the World Bank; and whether they are committed to an open, merit-based and transparent selection process for that position.

[The Minister of State, Department for International Development (Lord Bates) (Con)]

My Lords, Her Majesty’s Government are committed to the open, merit-based and transparent process for selecting the next World Bank President agreed by the World Bank Board, including the agreed criteria against which candidates should be assessed.

[Lord Stern of Brentford (CB)]

My Lords, I thank the Minister for his reply. The perpetuation of the de facto monopoly by the USA and Europe of the positions at the head of the IMF and the World Bank undermines confidence in those institutions and in internationalism, and is surely unacceptable in a world that has changed radically since the founding of those institutions seven decades ago.

First, will the Minister now clearly and strongly on behalf of Her Majesty’s Government encourage good candidates from across the world to come forward for nomination, recognising that the past monopoly and the current signalling from Europe in relation to this appointment is a real deterrent? Secondly, will he recognise that the sustainable development goals agreed at the UN in September 2015 and the UN Paris climate agreement of December 2015 are at the core of the World Bank’s agenda and therefore recognise that the absence of commitment to this agenda is a serious weakness in the candidate nominated by the US, a weakness compounded by his lack of experience in managing a financial institution?

Thirdly—

[Noble Lords]

Too long.

[Lord Stern of Brentford]

This is important. Thirdly, when the tenure of Christine Lagarde, who has done an outstanding job as head of the IMF, comes to an end, will the Minister state clearly and strongly that Her Majesty’s Government will not support the perpetuation of Europe’s monopoly of this position and will actively seek good candidates from outside Europe and the USA?