The nominee of President Barack Obama for the presidency of the World Bank, Jim Yong Kim, has been confirmed as the president-elect of the bank.
The World Bank, in a statement on its website, said that Kim, Dartmouth College’s president, was chosen ahead of Nigeria’s Minister of Finance, Dr. Ngozi Okonjo-Iweala, for the job.
It is the first time there will be a contest for the presidency of the bank since it was founded.
The United States of America had always, solely, produced the president.
Kim is to succeed the incumbent, Robert Zoellick, who will retire at the end of June.
He is the 12th president of the World Bank.