Kim officially selected as World Bank President

Kim officially selected as World Bank President(Washington)- World Bank has named Jim Yong Kim as its next president. Dr. Kim, 52, will take over on July 1 after the current president, Robert B. Zoellick, steps down at the end of his five-year term.
For the first time, World Bank’s 25-member executive board considered more than one candidate. Numerous African countries had rallied around Ngozi Okonjo-Iweala, Nigerian finance minister and former World Bank managing director. José Antonio Ocampo, the former Colombian central banker and United Nations official, was also a candidate, though he withdrew from the race.
Ms. Okonjo-Iweala and Mr. Ocampo always faced long odds, given the composition of the World Bank board: Europe, the United States and Japan control about half of the voting shares.

Posted on Apr 16 2012. Filed under Business, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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