The US has wasted no time in nominating Jim Yong Kim for a second term as president of the World Bank.
The trained doctor and anthropologist’s current term isn’t due to run out until June next year, writes the FT’s Shawn Donnan. His bid for a second term has also been greeted with a staff revolt with the bank’s staff association calling for the board to conduct an international search for an alternative amid what it called a “crisis of leadership”.
But the South Korean-born Kim this summer sought the early blessing of the bank’s board for a second five-year term at the bank’s helm. And in response the board earlier this week announced that it would hold a three-week nominating period that opened at a minute past midnight on Thursday.
That period is seen as largely window dressing and no major rivals are expected to emerge. But just to send a message the US, which is the bank’s largest shareholder and has held the World Bank presidency since its founding at Bretton Woods in 1944, greeted the opening of nominations by formally submitting Mr Kim’s name.
Treasury Secretary Jack Lew said:
I am proud to announce that today the United States has nominated World Bank President Jim Kim for a second term….President Kim has used his first term to focus the World Bank on effectively addressing today’s most pressing global development challenges in innovative ways, from ending extreme poverty and tackling inequality, to combating climate change. President Kim has also ably led responses to major crises, including battling the Ebola pandemic and addressing the refugee crisis.
In addition, President Kim spearheaded needed reforms at the World Bank to better leverage knowledge within the Bank and enhance the use of the financial resources that shareholders provide. Re-electing President Kim will allow the World Bank to continue to build on these important initiatives and reforms.
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