Obama taps Jim Yong Kim for World Bank

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

WASHINGTON — President Barack Obama on Friday nominated Dartmouth College president and global health expert Jim Yong Kim to lead the World Bank, an unconventional pick that could help to quell criticism in the developing world of the U.S. stranglehold on the international organization’s top post.

Obama said Kim, a Korean-born physician and pioneer in the treatment of HIV, AIDS and tuberculosis, has the breadth of experience on development issues needed to carry out the financial institution’s anti-poverty mission.

“It’s time for a development professional to lead the world’s largest development agency,” Obama said Friday morning during a Rose Garden ceremony.

Obama was joined by Kim, Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton, who first recommended that Obama consider Kim for the World Bank post.

The 187-nation World Bank focuses on fighting poverty and promoting development. It is a leading source of development loans for countries seeking financing to build dams, roads and other infrastructure projects.

Since its founding in 1944, the World Bank has always been headed by an American. But developing countries, who have long sought to gain more power in the organization, planned an unprecedented challenge to Obama’s pick this year and considered nominating three other candidates.

However, Kim is still expected to succeed outgoing president Robert Zoellick, who announced in February that he was stepping down.

The actual selection will be made next month by the World Bank’s 25-member executive board. The United States, as the world’s largest economy, has the largest percentage of the votes.

Kim is expected to travel around the world on a listening tour to rally support for his nomination ahead of the board’s vote.

Senior administration officials said Obama took a strong personal interest in filling the World Bank vacancy after current president Zoellick announced in February he was stepping down. Obama and his advisers considered more than a dozen candidates, including well-known figures in the administration. But in the end, officials said, Obama pushed for a nominee with broad development experience and was particularly drawn to Kim’s innovative work fighting the spread of AIDS and tuberculosis.

Jim has truly global experience. He has worked from Asia to Africa to the Americas, from capitals to small villages. His personal story exemplifies the great diversity to our country,” Obama said Friday.

Obama was to travel to South Korea for a nuclear summit later Friday.

Administration officials said former President Bill Clinton weighed in with support for Kim during Obama’s deliberations. In a statement Friday, the former president applauded Kim’s nomination.

Jim Kim is an inspired and outstanding choice to lead the World Bank based on his years of commitment and leadership to development and particularly health care and AIDS treatment across the world,” he said.

U.S. and European officials have voiced support for the developing world’s efforts to expand their power at the World Bank, as well as its sister lending organization, the International Monetary Fund. But the status quo remains, with France’s Christine Lagarde holding the top spot at the IMF and Kim’s candidacy for World Bank president all but certain to prevail.

Story Continues →

View Entire Story

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks