Ivanka Trump among possible World Bank nominees

Ivanka Trump was the driving force behind a $1 billion World Bank fund to promote entrepreneurship by women. (AFP)
Updated 12 January 2019
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Ivanka Trump among possible World Bank nominees

  • Nikki Haley also in the running according to Financial Times report

WASHINGTON: Donald Trump’s daughter and adviser Ivanka and the former UN Ambassador Nikki Haley are among possible US candidates to replace outgoing World Bank President Jim Yong Kim, The Financial Times reported Friday.
Kim abruptly announced Monday he was cutting short his tenure as the bank’s president more than three years before his second term was due to end.
In addition to Trump and Haley, who stepped down as US Ambassador to the United Nations last month, other names being floated include Treasury Undersecretary for International Affairs David Malpass and Mark Green, head of the US Agency for International Development, the newspaper reported.
Ivanka Trump in 2017 was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women.
The Treasury Department told AFP on Friday that it had no comment in potential candidates.
The department has received a “significant number of recommendations,” a spokesperson said.
“We are beginning the internal review process for a US nominee. We look forward to working with the governors to select a new leader.”
Under an unwritten agreement, the United States, which is the bank’s largest shareholder, has always chosen its leader since the institution was founded following World War II.
But the success of a US candidate no longer appears completely assured.
Kim was the first American nominee to face a contested election for the World Bank presidency in 2012 and the bank’s board has said its selection process will be “open, merit-based and transparent,” implying non-US candidates would not be ruled out.
The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.


Australian territory gives major status to solar plan by Singapore’s Sun Cable

Singapore is set to benefit from a plan to export solar power by subsea cable from Australia’s Northern Territory. (Reuters)
Updated 10 sec ago
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Australian territory gives major status to solar plan by Singapore’s Sun Cable

  • Dozens of international developers are looking to Australia to build wind and solar farms, spurred by abundant wind and sun, falling turbine and panel costs, and corporate demand for contracts to hedge against rising power tariffs

SYDNEY: Australia’s Northern Territory has given major project status to an ambitious plan to transmit 3 gigawatts (GW) of solar power to Singapore by subsea cable, its chief minister said.
Michael Gunner said Singaporean firm Sun Cable’s proposed A$20 billion ($14 billion) solar farm near Tennant Creek would be the world’s largest, generating 10 gigawatts of power for both Darwin and Singapore.
Sun Cable plans to provide 3 gigawatts of power via 3,800 km (2,361.21 miles) of high voltage direct current transmission cable to Singapore, providing a fifth of the island nation’s electricity, according to the company’s website.
The Northern Territory — a 1.4 million sq km (540,000 sq miles) expanse of outback extending from the center of Australia to its northern coastline — awards major status to projects it sees as significant to the jurisdiction, helping companies with co-ordinated government approvals and a dedicated case manager.
Gunner said in an emailed statement that the government would negotiate a project development agreement with Sun Cable.
“Major Project Status for Sun Cable is an important step toward making this vision a reality,” he added.

BACKGROUND

International companies are looking to Australia to build wind and solar farms, attracted by abundant wind and sun and falling turbine and panel costs.

No further details about the project were available. Sun Cable could not be immediately reached for comment.
Dozens of international developers are looking to Australia to build wind and solar farms, spurred by abundant wind and sun, falling turbine and panel costs, and corporate demand for contracts to hedge against rising power tariffs.
This comes despite grid constraints and extra scrutiny from network operators to make sure that new projects do not spark blackouts such as those suffered two years ago.