Washington: The World Bank committee has unanimously agreed to name Jim Yong Kimto a second term as president, the global lender publish Tuesday.
Kim had been the only candidate in a process criticized by World Bank staff and campaigners as missing in transparency & dominated by the United States.
In a statement announcing the decision, the Bank`s board offered a powerful endorsement of Kim`s record, including setting the goal of eliminating extreme global poverty by 2030 and an internal reorganization to promote superior coordination which provoked staff dissent.
The board also said an effort under Kim to cut bank spending had decreased administrative costs by USD400 million, money then reinvested to support the bank`s goals.
Kim received the US endorsement almost immediately after the window for nominations for the term beginning next July opened, maybe warding off challengers & avoiding a repeat of 2012.