Ivanka Trump reportedly being considered to head World Bank

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A Treasury Department spokeswoman would not confirm or deny the news, telling the Times that they had "a significant number of recommendations for good candidates".

Ivanka Trump could be the next head of the World Bank along with other nominees including Former UN Ambassador Nikki Haley.

The outgoing President Jim Yong 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.

Ivanka Trump's previous business experience includes her work with the Trump Organization and managing her own lifestyle and fashion brand.

Developing nations also have been increasing the pressure on the institutions to name a leader from an emerging market country.

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It also emerged that this year could mark a step away from the decades-long tradition of nominating Americans to the high-profile post.

The Financial Times reported that Trump's daughter Ivanka Trump is being considered for the role. United States officials involved in the process said they expected American efforts to pick Mr. Kim's successor to face even more challenges from the rest of the world.

"A World Bank president chosen by the Trump administration could, in particular, try to limit its financing of projects meant to tackle climate change, as well as any work that is seen as supporting the building of Chinese infrastructure", the report said.

Kim was the first American nominee to face a tight election for the World Bank presidency in 2012 and the bank's board said its selection process will be "open, merit-based and transparent", implying that it does not will discard candidates who are not Americans. "My instinct is that there is a very strong likelihood that the U.S. nominee will be approved". The largest shareholders of the World Bank - including the US, China, Japan, and Germany - each have an individual director who represents their interests.

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