African Ministers of Finance and Economic Planning have adopted a resolution backing the candidature of the continent’s nominee for the position of World Bank President, Dr. Ngozi Okonjo-Iweala.

The Ministers adopted the resolution Tuesday afternoon, March 27, 2012 during the 5th Joint Annual Meetings of the African Union (AU) Conference of Ministers of Economy and Finance and the Economic Commission for Africa (ECA) Conference of African Ministers of Finance, Planning and Economic Development in Addis Ababa, Ethiopia.

Dr. Okonjo-Iweala told journalists at a press conference Monday March 26, 2012 that her nomination was put forward by President Goodluck Jonathan and was widely supported by African leaders.

The other contestants for the position are; Colombian José Antonio Ocampo and Korean-American Jim Yong Kim.

The World Bank said it expects selection of the new President “by consensus” by the 2012 Spring Meetings with the International Monetary Fund that begin on April 20.

If elected, Dr. Okonjo-Iweala will be the first African to head the Bretton Woods institution with which she has worked for 25 years.

By Emmanuel K. Dogbevi, in Addis Ababa, Ethiopia/ghanabusinessnews.com

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