U.S. Treasury Secretary Janet Yellen said on Saturday that she believes the strong qualifications of the U.S. nominee to lead the World Bank, ex-Mastercard CEO Ajay Banga, will overcome any criticism of the selection process.
But the swiftness with which President Joe Biden nominated Banga, in a surprise pick immediately after the World Bank's board began accepting nominations on Thursday, drew criticism from some non-profit groups, climate and development professionals that the United States never wanted an open contest for the job and sought quickly to deter challengers.
"So much for a merit-based transparent process with female candidates strongly encouraged," said Claire Healy, Washington director for the E3G climate think tank, referring to the board's"Time is short and the stakes are high, so concerns about the process will likely be set aside to get the reforms done," Healy added.
"There's broad agreement that we need to mobilize private capital," Yellen said. "This is an individual who has a better chance of being able to accomplish that than anyone else I can honestly think of."
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