World Bank Reappoints President Jim Yong

The World Bank reappointed Jim Yong Kim to a five-year term as President of the multilateral development lender after the nomination period closed without any challengers coming forward.

Mr. Jim, an American citizen, was unanimously chosen by the bank’s executive directors for a term that begins on July 1, 2017.

Following an unwritten rule, the United States, the Bank’s largest shareholder, has chosen all World Bank presidents since the institution’s creation after the Second World War.