World bank chief heads for second term, as no other nominees

Kim, a Korean-American medical doctor, focused the World Bank on programs to reduce extreme poverty, received solid backing for a second term. (File Photo: AP)

World Bank President Jim Yong Kim effectively won a second five-year term after nominations to lead the global development bank closed with no other candidates proposed. The World Bank executive board said in a statement that, following official procedures, it would formally meet with Kim as a candidate “with the expectation of completing the selection process by the 2016 Annual Meetings,” which take place on October 7-9.

Kim, 56, a Korean-American medical doctor who has focused the World Bank on programs to reduce extreme poverty, earned solid backing for a second term from the United States, France, Germany, In 2012, Kim did face competition when Nigerian Finance Minister Ngozi Okonjo-Iweala also contended for the presidency.

But no rivals surfaced during the three-week nomination period this time around, leaving Kim virtually assured of continuing in the job when his first term ends on June 30, 2017. In an open letter in August, the 15,000-member World Bank Group Staff Association called for a more open and focused search and selection process that did not repeat “decades of backroom deals which, 12 times in a row, selected an American male.”

Kim’s first term has been marked by his campaign to eradicate extreme poverty by 2030; the bank's leadership in a 2014 campaign to halt the deadly outbreak of Ebola in West Africa; and its initial resistance to, and then tentative partnership with, the China-created rival Asian Infrastructure Bank. But he has also faced rebellion from within the Washington-based bank over an ambitious and still-incomplete restructuring of how the huge organization manages its poverty-fighting and development programs. Lending for those programs is expected to hit $46 billion this year. In an employee survey, staff have reported feeling detached from senior management and unsure of the direction of policy.

“Only one in three understand where the senior management team is leading us,” the Staff Association said.

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Last Update: Wednesday, 20 May 2020 KSA 14:12 - GMT 11:12
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