World Bank chooses U.S. candidate Jim Yong Kim as new president
WASHINGTON, D.C. (BNO NEWS) — U.S. candidate Jim Yong Kim has been chosen as the World Bank’s next president, succeeding American Robert Zoellick who has served in the position at the 187-member development agency for nearly five years.
“I am honored to accept the Executive Directors’ decision to select me as the next President of the World Bank Group,” Kim said. “I am delighted to succeed Robert Zoellick, who has served with excellence and distinction during the last five years, and I am grateful to the Bank’s member countries for the broad support I have received.”
Kim, 52 and born in the South Korean capital of Seoul, was initially nominated by U.S. President Barack Obama in late March. “The World Bank is one of the most powerful tools we have to reduce poverty and raise standards of living around the globe, and Jim’s personal experience and years of service make him an ideal candidate for this job,” Obama said in March.
Kim, who said he will seek a ‘new alignment’ of the World Bank Group, is set to take office on July 1. “Together, with partners old and new, we will foster an institution that responds effectively to the needs of its diverse clients and donors; delivers more powerful results to support sustained growth; prioritizes evidence-based solutions over ideology; amplifies the voices of developing countries; and draws on the expertise and experience of the people we serve,” said Kim.
Kim gathered the approval of the 25-member board in a unique manner, as the presidency was challenged by other candidates for the first time ever. Nigerian finance minister Ngozi Okonjo-Iweala and Colombian finance chief Jose Antonio Ocampo eventually withdrew from the race last week.
The World Bank has had American presidents throughout its over 60 years of history.