World Bank reappoints Jim Yong Kim for second term as President
Posted on:28 Sep 2016 09:07:51
28 September 2016 Current Affairs: Executive Directors of the World Bank has agreed unanimously to reappoint Jim Yong Kim to a second five-year term as President of the World Bank Group on 27 September 2016, beginning 1 July 2017.
The Board noted that in the first year of Kim’s leadership, which began in July 2012, shareholders endorsed two ambitious new goals for the institution. They were: Elimination of extreme poverty by 2030, and Promotion of shared prosperity. These new initiatives boosted the income growth of the bottom 40 percent of the population in every developing country.
Jim Yong Kim : Jim Yong Kim is a South Korean-American physician and anthropologist.He has been serving as the 12th President of the World Bank since 1 July 2012. He was formerly the Chair of the Department of Global Health and Social Medicine at Harvard Medical School.He also holds the honour to become the first Asian American president of an Ivy League institution.
He was named the world's 50th most powerful person by Forbes Magazine's List of The World's Most Powerful People in 2013.
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