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World Bank president Jim Yong Kim nominated for second term

Jim Yong Kim has served as the 12th president of the World Bank since 2012. Photograph: (Getty)

WION Washington, United States Sep 14, 2016, 11.11 PM (IST)

World Bank president Jim Yong Kim effectively won a second five-year term after nominations closed on Wednesday with no other candidates proposed.  

The World Bank executive board said in a statement that it expected the selection process to be completed at the Annual Meetings from October 7-9. 

Like in 2012, Kim's nomination, which was backed by the major shareholders of the bank, including the United States, France, Germany and China, was criticised for the lack of transparency in the selection process and not keeping it open for everyone. 

Ever since its inception during World War 2, the 56-year-old leader of the global development bank has always been an American chosen by Washington. The only time an American candidate has ever been challenged was in 2012 when Nigerian finance minister Ngozi Okonjo-Iweala faced-off with Kim for the presidency.

Originally a Korean-American medical doctor, Kim has steered the World bank on programs to reduce extreme poverty.

(WION with inputs from AFP)

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