More open selection process needed: Rival WASHINGTON — Jim Yong Kim, Korean-born American health expert, will be the World Bank president. His selection Monday extends the US hold on the top job at the 187-nation development agency. The 52-year-old Kim, a surprise nominee of President Barack Obama, won the job over Nigeria's widely respected Finance Minister Ngozi Okonjo-Iweala with the support of Washington's allies in Western Europe, Japan and Canada. Unlike previous World Bank elections, the decision was not unanimous among the 25-member board. Among the emerging economies, Brazil and South Africa backed Okonjo-Iweala, while sources said China and India supported Kim. “The final nominees received support from different member countries, which reflected the high caliber of the candidates,” the World Bank said. Kim, president of Dartmouth College, will assume his new post on July 1 after the current president, Robert Zoellick, steps down. Okonjo-Iweala congratulated Kim and said she looked forward to working with him. However, she said the selection process needs to be improved. “It is clear to me that we need to make it more open, transparent and merit-based,” Okonjo-Iweala said. “We need to make sure that we do not contribute to a democratic deficit in global governance.” Kim praised his two opponents, Okonjo-Iweala and former Colombian finance minister Jose Antonio Ocampo, from developing countries and said his goal as president would be to “seek a new alignment of the World Bank with a rapidly changing world.” Kim's selection marks a break from previous World Bank leaders who were typically political, legal or economic figures. The World Bank raises money from its member nations and borrows from investors to provide low-cost loans to developing countries.
