World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
The world bank president
(MPI Portal) - On June 27th, at the headquarters of the Ministry of Planning and Investment, Minister Bui Quang Vinh had a meeting with Mr. Kaushik Basu, Senior Vice President and Chief Economist, and mission delegation of the World Bank (WB) visiting and working in Vietnam. At the meeting, Mr. Kaushik Basu discussed Project on Vietnam economic institutional reform, the strategic targets of WB which suggest to Vietnam to implement socio - economic goals. Mr. Kaushik Basu said that in the context of global economic downturn, Vietnam has done well for poverty reduction. Vietnam has a stable political system, which is good conditions for economic development. For poverty reduction, based on the experience of India, Vietnam should choose appropriate form of grants, avoid market distortion and loss of resources. Minister Bui Quang Vinh said that poverty reduction is a key task of Vietnam Government. Vietnam's economy still has many problems to be solved, including commodity subsidy and … [Read more...] about Minister Bui Quang Vinh receives Senior Vice President, Chief Economist of the World Bank
CPV: The new World Bank President Robert B. Zoellick on August 7, wrapped up his two day visit to Vietnam, offering to help the country move to the next stage of development through broad-based support. "Vietnam has the potential to be one of the great success stories in development. It has already achieved one of the fastest improvements in living standards in the world, with a great reduction in poverty" Mr. Zoellick said. "Driven by the first stage of reforms and the benefits of trade and WTO accession, Vietnam is on pace to become a middle income country by 2010. It has boosted rural electricity, attracted over US$ 10 billion of foreign direct investment last year and launched its first international bond issue. "The World Bank Group-in particular, the International Development Association (IDA)-has been a strong partner for Vietnam over these past 14 years. This experience shows the considerable benefits of IDA when the money and advice is put to productive use. Now we are proud … [Read more...] about Vietnam striving to become middle-income country, World Bank President says
The World Bank on Monday unanimously approved Robert Zoellick as its president after a controversial two-year term by Paul Wolfowitz, who agreed to resign over a promotion scandal involving his companion. Zoellick, former deputy US secretary of state and trade representative, was the only nominee for the job and will overlap for a week with Wolfowitz before he officially takes the reins of the poverty-fighting institution on July 1. Former U.S. Deputy Secretary of State and candidate to the presidency of the World Bank Robert Zoellick sits during a meeting with European Commissioner for Economic and Monetary Affairs Joaquin Almunia in Brussels … [Read more...] about Zoellick confirmed as new World Bank president
The United States on Friday named its candidate to lead the World Bank (WB), but this time the selection is not a solo any more. U.S. Secretary of State Hillary Clinton (1st L), Dartmouth College President Jim Yong Kim (2nd L) and U.S. Secretary of the Treasury Timothy Geithner (1st R) listen while U.S. President Barack Obama speaks in the Rose Garden of the White House in Washington D.C., capital of the United States, March 23, 2012. Obama on Friday nominated the Korean-American physician Jim Yong Kim to head the World Bank, succeeding outgoing Robert Zoellick. (Xinhua/Zhang Jun) Two candidates endorsed by developing countries unprecedentedly challenged the U.S. monopoly on the top post of the WB, the leading global financial institution for fighting poverty and supporting development. SURPRISE PICK As the deadline loomed, U.S. President Barack Obama announced the nomination of Jim Yong Kim, a Korean-American global health expert, as candidate to replace outgoing Robert … [Read more...] about U.S. monopoly on World Bank presidency challenged