Democratic Deficit in World Bank Presidential Appointment: Where is the Evolution?
Unless there is a profound transformation, the World Bank’s new roadmap will lead nowhere for communities in the Global South, suggests the
Steering Committee of the Coalition for Human Rights in Development in its report. The nomination of Ajay Banga - former MasterCard CEO and investment banker, without demonstrable development or human rights expertise - signals “more of the same”, redirecting public resources to generate private profit without transparency, accountability or participation. The authors suggest that the Bank should use 2023 - the 75th anniversary of the
Universal Declaration of Human Rights - to develop a human rights policy, including the adoption of development indicators for human rights-based and community-led development, human rights due diligence for all project investments and policy interventions, and an effective remedy framework for harm suffered by communities.
https://www.brettonwoodsproject.org/2023/04/democratic-deficit-in-world-bank-presidential-appointment-where-is-the-evolution/
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