Americas

Americas

World Bank picks U.S. candidate Jim Yong Kim as new president

16 April 2012 20:08 (UTC +04:00)

Baku-APA. The World Bank announced Monday that Jim Yong Kim, the U.S. candidate, has been selected as the Bank’s new president, APA reports quoting Xinhua.

Kim was favored over Nigerian Finance Minister Ngozi Okonjo- Iweala, the other candidate who was supported by South Africa and other developing countries.

"The Executive Directors selected Dr. Jim Yong Kim as President for a five-year term beginning on July 1, 2012," the Washington- based global institution said in a statement.

Kim, a Korean-American public health expert and Dartmouth University president, will succeed outgoing Robert Zoellick, whose term expires at the end of June.

A third candidate, former Colombian Minister of Finance Jose Antonio Ocampo, pulled out of the race on Friday.