Dr. Kim Selected New President of the World Bank

Dr. Jim Yong Kim has been chosen as the 12th President of the World Bank Group. Dr. Kim will succeed Robert Zoellick, who is leaving the position after a five year term.

“As President, I will seek a new alignment of the World Bank Group with a rapidly changing world. Together, with partners old and new, we will foster an institution that responds effectively to the needs of its diverse clients and donors; delivers more powerful results to support sustained growth; prioritizes evidence-based solutions over ideology; amplifies the voices of developing countries; and draws on the expertise and experience of the people we serve,” said Kim in a statement.

It was also the first time the Bank had a new selection process to present multiple nominees. The candidates for the top post were Nigerian Finance Minister Ngozi Okonjo-Iweala, who is former managing director of the World Bank and Jose Antonio Ocampo, former finance minister of Colombia.

Dr. Kim begins his term on July 1.

For more information, read the full statement from the World Bank.