The Business Times

World Bank CFO bonus amid cost cuts draws flak

Bank cites 'scarce skills premium' while staff allege double standards

Published Thu, Oct 2, 2014 · 09:50 PM

[WASHINGTON] A US$94,000 bonus for the World Bank's finance chief, disclosed in an internal blog, is drawing criticism from staff who are questioning it amid planned layoffs and budget cuts at the bank.

Bertrand Badre, the chief financial officer, who has pushed much of the cost-cutting, received the bonus in "recognition of his skills", according to an internal World Bank blog seen by Reuters.

World Bank spokesman David Theis said the bonus was justified given Mr Badre's experience and strong track record at the bank. The bonus would come on top of Mr Badre's salary, which has not yet been released. He earned US$379,000 in the 2013 fiscal year.

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