Russia considering challenge to US nominee to head World Bank
Al JazeeraRussia is consulting with its allies about challenging the United States’s nominee to head the World Bank, Moscow’s top representative at the bank has said, a move that could complicate what was expected to be a smooth succession process. Russia remains a voting member of the World Bank, although the bank halted all programs in Russia and Belarus last March, citing what it called “hostilities against the people of Ukraine” following Russia’s invasion. Roman Marshavin, the World Bank executive director representing Russia and Syria, told the Reuters news agency the “listing of potential candidates and consultations are still ongoing,” but gave no details. US President Joe Biden last month nominated ex-Mastercard Chief Executive Officer Ajay Banga, 63, to replace David Malpass at the helm of the World Bank, which oversees billions of dollars in funding for developing countries. A challenge from Russia or an allied country is unlikely to change the outcome, given the shareholding structure, but it could expose simmering tensions between the US and Western nations and China — the bank’s third largest shareholder — over the World Bank and other global financial institutions.
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April 6, 2022 Russia-Ukraine news
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