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Ngozi Okonjo-Iweala: Changing the World Bank

The World Bank was created in 1944 along with the IMF to manage the post-World War II global economy. Nearly 70 years later the world has changed and countries once dependant on the World Bank are now global powers themselves.

As the World Bank is about to select a new president, Dr. Ngozi Okonjo-Iweala, Nigeria's finance minister, talks to Sir David Frost about her candidacy for the presidency of the World Bank. If elected, she would be the first African, the first black, the first female to head the bank.

She says: "I grew up in Nigeria, I lived poverty, I know what it is to be able to fetch water, to not have three meals a day, I lived through the conflict and war in Nigeria and I know what it means to be in a fragile and conflict-affected state and what that does to economic development. So I'm not talking about these things from theory. I've also had 25-years of experience working at a bank in regions all over the world… And this is capped off by working on the other side of the donor community in terms of being a finance minister and now coordinating minister for the economy. So I know what it is like to manage complex development problems every day… I'm passionate about development, I'm passionate about what the World Bank can do."

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Ngozi Okonjo-Iweala: Changing the World Bank
If elected, Nigeria's finance minister would be the first African, first black and first female to head the institution.

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