Jim Yong Kim re-appointed as President of World Bank for second term

Jim Yong Kim has been re-appointed as President of World Bank for a second five-year term beginning 1 July 2017.
He was unanimously chosen by the Executive Directors of the World Bank. He was the only candidate in a process.

 About Jim Yong Kim

• Jim Yong Kim is a South Korean-American physician and anthropologist.
• He is the 12th President of the World Bank and for first time was appointed in 2012.
• He was a global health leader and was formerly the Chair of Department of Global Health and Social Medicine at Harvard Medical School.
• The Forbes Magazine had named him in its list of the world’s 50th most powerful in 2013.

About World Bank

• The World Bank is an international financial institution that provides loans to developing countries for capital programs.
• It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
• Formation: July 1944.
• Headquarters: Washington DC, United States.
• Motto: Working for a World Free of Poverty.
• Membership: 189 countries (IBRD), 173 countries (IDA)
• The World Bank is one of the five components of the World Bank Group, which is part of the United Nations system.

Month: Current Affairs - September, 2016