Egypt central bank deploys AI tools to track inflation, map informal economy: governor    Egypt's stocks record strong gains in September, EGX30 up 4.33%    Egypt approves 776,379 state-funded treatment decisions in July–August    Egypt launches waste reduction plan in Port Said with Japan's JICA    Telecom works near Grand Egyptian Museum cause brief Cairo service outage: NTRA    Egypt drug regulator, Organon discuss biologics expansion, investment    Microfinance portfolios in Egypt exceed EGP 101bn, reaching 4.1 million clients by Q2 2025    Gaza death toll surpasses 66,000 as Israel tightens siege, 'Freedom Flotilla' nears coast    Egypt's PM addresses parliament on Al-Sisi's objections to criminal procedures bill    Egypt's Contact Financial closes EGP 1.312bn securitisation bond    Suez Canal Authority urges Maersk to resume transits, citing strategic role in global trade    Egypt's Al-Sisi reaffirms state's commitment to judicial independence    Alameda launches Egypt's largest private-sector medical conference    Egypt calls for global mental health action, strengthens regional partnerships at Doha Summit    A Timeless Canvas: Forever Is Now Returns to the Pyramids of Giza    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Egypt's foreign minister says Ethiopia's Nile dam policy is 'destabilising'    Trump unveils controversial Gaza peace plan amid escalating crisis, divided responses    Al-Sisi, Bin Zayed back Trump's Gaza peace initiative amid mounting diplomatic drive    Egypt to host men's, juniors' and ladies' open golf championships in October    Egypt's President Al-Sisi pardons activist Alaa Abdel Fattah, 5 others    Egyptian Writers Conference announces theme for 37th session    Egypt's Al Ismaelia wins heritage award for Downtown Cairo revival    Egypt's PM heads to UNGA to press for Palestinian statehood    Egypt condemns terrorist attack in northwest Pakistan    Egypt's foreign minister holds talks on reviving Iran nuclear negotiations    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



World Bank picks American health expert Kim as president
Published in Daily News Egypt on 17 - 04 - 2012

WASHINGTON: The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington's grip on the job and leaving developing countries questioning the selection process.
Kim, 52, 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 among the 25-member board was not unanimous. Among emerging economies, Brazil and South Africa backed Okonjo-Iweala, while three sources said China and India supported Kim.
Kim, president of Dartmouth College, will assume his new post on July 1 after the Bank's current president, Robert Zoellick, steps down.
"I will seek a new alignment of the World Bank Group with a rapidly changing world," Kim said in a statement from Peru, his last stop on a global tour that began after President Barack Obama nominated him for the job in March.
"Together, with partners old and new, we will foster an institution that responds effectively to the needs of its diverse clients and donors; delivers more powerful results to support sustained growth; prioritizes evidence-based solutions over ideology; amplifies the voices of developing countries; and draws on the expertise and experience of the people we serve," Kim added.
Okonjo-Iweala congratulated Kim and said the competition had led to "important victories" for the world's developing nations, who have increasingly pushed for more influence in global financial institutions.
She said more effort was needed to end the "long-standing and unfair tradition".
"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."
The United States has held the presidency since the World Bank's founding after World War Two, while a European has always led its sister institution, the International Monetary Fund.
The World Bank competition coincides with an aggressive push by emerging economies for greater voting power at the International Monetary Fund.
Brazilian Finance Minister Guido Mantega said on Monday his country would not give additional money to the IMF to tackle the effects of the European debt crisis until the institution showed firm commitment to voting reforms.
Breaking the mold
Unlike previous heads of the World Bank, Kim is not a politician, a banker or diplomat. He is a trained physician and anthropologist who has worked to bring health care to the poor in developing countries, whether fighting tuberculosis in Haiti and Peru or tackling HIV/AIDS in Russian prisons.
He is also a director of the Department of AIDS/HIV at the World Health Organization.
Obama said the process had been open and transparent.
"I appreciate the strong support offered to Dr. Kim from leaders around the world," Obama said in a statement. "I am pleased that this had been an open and transparent process, and would like to take this opportunity to acknowledge the outstanding qualifications and commitment of the other two candidates."
Former Colombian finance minister Jose Antonio Ocampo withdrew from the race on Friday, saying the process, which was meant to be based solely on credentials, had become highly political.
South African Finance Minister Pravin Gordhan welcomed the fact that non-Americans competed for the post for the first time, but also said there were concerns the process was not fully merit-based.
"I think we are going to find that the process falls short of that," Gordhan told the Foreign Correspondent's Association in South Africa, adding that there were also "serious concerns" the decision was made without full transparency.
Andrew Mitchell, British secretary of state for international development, said Kim had shown he can drive change. "As the first development professional to head the World Bank, Jim Kim's considerable experience will be vital as he leads it through its ambitious reform and modernization program," he said.


Clic here to read the story from its source.