BREAKING NEWS

Geithner: US World Bank pick to win broad support

By REUTERS

MARCH 24, 2012 21:10

WASHINGTON - Jim Yong Kim, the US nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies, US Treasury Secretary Timothy Geithner said in an interview.

Washington's hold on the World Bank presidency is being contested for the first time by candidates from emerging economies. Two respected economists and diplomats, Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian finance minister Jose Antonio Ocampo, have been nominated.

Kim, a Korean-American health expert, is well known among development experts for his work in fighting HIV/AIDS and bringing healthcare to the poor. President Barack Obama nominated him for World Bank president on Friday.

"The president was looking for a candidate who could command broad support across the world," Geithner told Reuters in an interview released on Saturday. "That's very important, because we don't make this decision alone."

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