Jim Yong Kim wins World Bank presidency election

17 April 2012

US nomination Jim Yong Kim has won the race to become the new president of the World Bank, it emerged yesterday (17 April).

The 53-year-old Korean-born physician and anthropologist has been voted in to succeed current head of the institution Robert Zoellick on a five-year term from 1 July this year.

Traditionally, the US has always held the presidency at the World Bank - a body established in 1944 and based in Washington DC - but this time, Nigerian finance minister Ngozi Okonjo-Iweala also put his name forward for the role.

However, despite the fact the 25-strong board was not unanimous in its opinion with Mr Okonjo-Iweala receiving the support of emerging economies such as Brazil, Mr Kim has been appointed to the position.

In a statement following his election, the official - who is also president of Dartmouth College - said: "I will seek a new alignment of the World Bank Group with a rapidly changing world."

By Asim Shah

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