Audio By Carbonatix
The World Bank on Monday named Jim Yong Kim, a global health expert and the president of Dartmouth College, as its next president in a widely expected appointment that continues the longstanding tradition of an American leading the Washington-based development institution.
Dr. Kim, 52, will take over at the beginning of July, after the current president, Robert B. Zoellick, steps down at the end of his five-year term.
While the selection of Dr. Kim by the bank's 25-member executive board was no surprise, the board had, for the first time, considered more than one candidate, a reflection of the increasing clout of emerging-market nations on the global stage.
Numerous African countries had rallied around Ngozi Okonjo-Iweala, the Nigerian finance minister and former World Bank managing director. José Antonio Ocampo, the former Colombian central banker and United Nations official, was also a candidate.
Ms. Okonjo-Iweala and Mr. Ocampo always faced long odds, given the composition of the World Bank board: Europe, the United States and Japan control about half of the voting shares. But their candidacies reignited a debate over Washington’s continued control of the institution.
The bank itself has granted more power recently to countries like China, Brazil and India, as these cash-rich and fast-growing economies are called on to finance development programs and multilateral institutions, not just to receive financing from them. In 2010, the World Bank increased the relative voting share of emerging economies. It also committed to an open, transparent and merit-based presidential selection process.
But those trends have not yet resulted in a non-American rising to the top of the organization. Traditionally, an American oversees the World Bank, which finances a wide variety of private and public development projects, while a European heads the International Monetary Fund.
After the White House nominated Dr. Kim in March, he went on an around-the-world “listening tour” to rally support for his candidacy. Dr. Kim won the support of countries including Canada, Mexico, South Korea, Japan and Russia.
In a recent interview, Dr. Kim stressed that he wanted to make the bank as inclusive as possible, while achieving its mission of eradicating poverty and supporting economic development.
He also said he wanted to make the bank’s programs more data-driven. “There’s no one-size-fits-all. There’s no big idea that will lead to economic growth for everybody,” he said. “I think we must be evidence-based and evidence-driven, and we must pay attention to local contexts.”
Dr. Kim is a lauded global health expert, a physician and anthropologist by training. He is a founder of Partners In Health, a nonprofit that runs community-focused health programs in poor countries. He also worked at Harvard University and the World Health Organization, where he spearheaded a program to deliver antiretroviral treatments to people living with H.I.V./AIDS. Since 2009, he has been the president of Dartmouth College.
The World Bank board made its decision in advance of its spring meetings, held jointly with the International Monetary Fund later this week.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Police declare suspect wanted over double murder near Tema Golf City
6 minutes -
Two BECE candidates injured in Nkwanta South accident, return to sit exams
12 minutes -
Climate change is a national development challenge – Issifu Seidu
16 minutes -
Twins among four nabbed for BECE exam malpractice during Science paper
22 minutes -
BoG has no separate financial stability committee to check system risks – IMF
25 minutes -
CDD, IMANI, 12 other CSOs file to join Supreme Court case challenging OSP Act
43 minutes -
Africa must shape the future of global finance, not just follow — BoG Governor
44 minutes -
Ghana to host landmark global conference on reparatory justice following historic UN resolution
44 minutes -
The price of stability : Why Bank of Ghana is breaking its balance sheet to save your bread
49 minutes -
Africa must move beyond payments to unlock next phase of digital finance – BoG Governor
52 minutes -
BoG pushes Africa beyond digital payments as fintech regulation drive deepens
60 minutes -
Human-to-human hantavirus transmission suspected on board stranded cruise ship, WHO saysÂ
1 hour -
Payments, identity, regulation and infrastructure key to Africa’s digital integration – Vice President
1 hour -
“Northern Ghana not a punishment ground” — Bernard Mornah demands Ocloo’s resignation over posting remarks
1 hour -
China calls for Strait to be reopened ‘as soon as possible’ in Iran talks
1 hour