{"id":12899,"date":"2012-04-16T23:04:37","date_gmt":"2012-04-16T23:04:37","guid":{"rendered":""},"modified":"2012-04-16T23:04:37","modified_gmt":"2012-04-16T23:04:37","slug":"World-Bank-picks-US-candidate-as-chief","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=12899","title":{"rendered":"World Bank picks US candidate as chief"},"content":{"rendered":"

This is great news for Asian Americans!<\/strong><\/p>\n

The World Bank chose Korean-American physician Jim Yong Kim as its next chief in a decision that surprised few despite the first-ever challenge to the US lock on the bank’s presidency.<\/strong><\/p>\n

The bank’s directors chose Kim, a 52-year-old US health expert and educator, over Nigerian Finance Minister Ngozi Okonjo-Iweala, who had argued the huge lender needs reorientation under someone from the developing world.<\/p>\n

Kim,<\/strong> currently president of the Ivy League University Dartmouth, will replace outgoing President Robert Zoellick, the former US diplomat who is departing in June at the end of his five-year term.<\/p>\n

The bank’s directors expressed “deep appreciation” to Kim, Okonjo-Iweala and a third candidate, Colombian economist Jose Antonio Ocampo, who pulled out of the race Friday.<\/strong><\/p>\n

“Their candidacies enriched the discussion of the role of the president and of the World Bank Group’s future direction,” the bank said in a statement.<\/p>\n

“The final nominees received support from different member countries, which reflected the high calibre of the candidates.”<\/p>\n

Nevertheless, there had been little doubt about the choice of Kim<\/strong>, even as he breaks the pattern of American bankers and diplomats being named to lead the huge development bank.<\/p>\n

By a longstanding pact Washington has chosen the head of the World Bank while Europe has held control of who leads its sister institution, the International Monetary Fund.<\/p>\n

Source AP<\/em>
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