President B. Obama Nominates ‘Jim Yong Kim’ To Be President Of World Bank

President Obama has nominated Korean-born US academic Jim Yong Kim to be the next president of the World Bank.

The nomination of the Dartmouth College president and development expert is a surprise as he was not mentioned as a contender over the past weeks.

A US citizen has led the Bank since it was founded in 1944, but developing nations say it is time for change.

The World Bank confirmed that there are three candidates – with the other two coming from Nigeria and Colombia.

After the deadline for nominations to replace the current president, Robert Zoellick, passed, the World Bank that Nigerian Finance Minister Ngozi Okonjo-Iweala and Jose Antonio Ocampo, a former Colombian finance minister, have made the shortlist along with Dr Kim.

But with the US holding the most votes at the World Bank, which has 187 members, the vote on the next president should be a formality.

International experience

President Barack Obama stressed Dr Kim’s international experience in his statement announcing the nomination.

“It is time for a development professional to lead the world’s largest development agency,” he said.

“Jim has truly global experience. His personal story exemplifies the great diversity of our country… and his experience makes him ideally suited to forge partnerships all around the world.”

Dr Jim Yong Kim

Born 1959 in Seoul, South Korea
Co-founded Partners in Health, providing health programmes for the poor, while student at Harvard University in 1987
Named one of Time Magazine’s 100 Most Influential People in the World, 2006
Appointed president of Dartmouth College, New Hampshire in 2009
Appears dancing and singing in video with “Dartmouth Idol” finalists in 2011

Profile: Jim Yong Kim

“This is one of the most critical institutions fighting poverty and providing assistance to developing countries in the world today,” Dr Kim said in a letter to students at his university.

“After much reflection, I have accepted this nomination to national and global service.”

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Link: http://www.bbc.co.uk/news/business-17481973

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Posted by WoodlawnPost on Mar 24 2012. Filed under Banking, Political. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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