Ocampo to withdraw from World Bank contest: sources

Reuters News
Posted: Apr 13, 2012 11:28 AM

WASHINGTON (Reuters) - Former Colombian finance minister Jose Antonio Ocampo is set to withdraw his nomination for the World Bank presidency on Friday in an agreement among emerging and developing countries to coalesce around one nominee, three sources said.

The sources said a straw poll among World Bank directors representing the Group of 11, which includes emerging countries and Australia, backed Nigerian Finance Minister Ngozi Okonjo-Iweala.

Ocampo was nominated by Brazil, which represents a constituency of Latin American countries on the World Bank board.

(Reporting By Timothy Ahmann; Editing by Chizu Nomiyama)