BREAKING NEWS

World Bank picks health expert Kim as president

By REUTERS

APRIL 16, 2012 20:03

WASHINGTON - The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington's grip on the job and leaving developing countries questioning the selection process.

Kim, 52, won the job over Nigeria's widely respected finance minister, Ngozi Okonjo-Iweala, with the support of Washington's allies in Western Europe, Japan, Canada and some emerging market economies, including Russia, Mexico and South Korea.

Unlike previous World Bank elections, the decision was not unanimous. "The final nominees received support from different member countries, which reflected the high caliber of the candidates," the Bank said in announcing its board's decision.

Kim, president of Dartmouth College, will assume his new post on July 1.

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