Obama confident new World Bank chief will be an inclusive leader

Jim Young Kim,Barack Obama's personal nominee,will take over at the beginning of July.

Written by Agencies | Washington | Published: April 17, 2012 10:30 am

US President Barack Obama has exuded confidence that new World Bank president Jim Young Kim will prove to be an inclusive leader with a commitment to sustained economic growth.

Kim,Obama’s personal nominee,was selected by the World Bank Executive Board as the next president. He will take over at the beginning of July,after current president Robert B Zoellick steps down at the end of his five-year term.

Congratulating Kim on his selection,Obama appreciated the strong support offered to him from leaders around the world.

“I am confident that Dr Kim will be an inclusive leader who will bring to the bank a passion for and deep knowledge of development,a commitment to sustained economic growth,and the ability to respond to complex challenges and seize new opportunities,” the US President said.

He also expressed satisfaction on the “open” and “transparent” selection process.

Delighted at his selection,Secretary of State Hillary Clinton said Kim “is an excellent selection to lead the World Bank forward,build consensus with donor and borrowing countries,and encourage the increasingly important leadership role of developing countries”.

He has demonstrated a deep commitment to solving some of the most pressing challenges we face. For over 25 years,he has worked to fight disease and hunger by pioneering innovative solutions and investing in people and communities,she said.

“We look forward to working with Dr Kim as he shapes an even stronger World Bank. Together,we will help develop economies,build partnerships,and alleviate poverty,” Clinton said.

Managing Director of International Monetary Fund (IMF),Christine Lagarde,in a statement,also congratulated Kim for his appointment.

“I very much look forward to working with him and in further advancing the strong collaboration between our institutions,” Lagarde said.

US Treasury Secretary Tim Geithner said Kim has a lifetime of experience solving complex problems.

“His deep development background coupled with his dedication to forging consensus will help breathe new life into the World Bank’s efforts to secure fast economic growth that is widely shared.

“I’m pleased that Dr Kim won such broad support from leaders around the globe,and I want to commend the outstanding efforts of the two other candidates. The World Bank was well served by the openness and transparency of the leadership selection process — a process we hope other international financial institutions will adopt in the future,” he said.

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