World Bank Names New President

The World Bank has chosen Korean-born American health expert, Jim Yong Kim, as its new president.

Kim, 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.

In a statement, Nigeria’s Finance Minister, Ngozi Okonjo-Iweala, who was vying for the post, congratulated Kim and said she looks forward to working with him.

However, Okonjo-Iweala said that the selection process needs to be improved.

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