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Monday
Apr162012

World Bank Names New President

Ramin Talaie/Bloomberg via Getty Images(WASHINGTON) -- Dr. Jim Yong Kim Monday was chosen as the World Bank's new president, making him the Asian-American selected for the job.

The World Bank board of directors selected 52-year-old Kim, the Dartmouth College President and a specialist in HIV/AIDS, despite past trends to appoint candidates from the government and finance sectors.  The trend that has remained, however, is the U.S. control on the role.  Since its creation in 1944, the World Bank has been headed only by Americans.

President Obama congratulated Kim Monday and expressed his favor for the World Bank board's decision.

"I am confident that Dr. Kim will be an inclusive leader who will bring to the Bank a passion for and deep knowledge of development, a commitment to sustained economic growth, and the ability to respond to complex challenges and seize new opportunities," the president said Monday in a statement.
 
"I am also pleased that this has been an open and transparent process, and would like to take this opportunity to acknowledge the outstanding qualifications and commitment of the other two candidates," President Obama added.  

Candidates from Nigeria and Colombia also contended for the position.

Copyright 2012 ABC News Radio







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