World Bank chief rebuffs critics for second term
September 28, 2016
In a statement announcing the decision Tuesday, the World Bank's board offered a strong endorsement of Kim's record, including setting the goal of eliminating extreme global poverty by 2030 and an internal reorganization to promote better coordination.
But as Kim had been the only candidate, the reappointment process has been criticized by campaigners and the global institution's staff which has been up in arms over some of Kim's structural reforms.
A former president of Dartmouth College, Kim was first appointed by US President Barack Obama in 2012.
The World Bank staff association, representing some 15,000 employees, said in an open letter last August that the tradition of the US picking the president flew in the face of principles of transparency, diversity and merit-based selection and that the bank was suffering from a "crisis of leadership."
But its criticism appears to have changed little and the board praised Kim for cutting some $400 million (357 million euros) in administrative costs.
"Chairs expressed satisfaction that this Expenditure Review is on track, allowing the organization to increase its support for countries and focus on delivering results more quickly," the statement said.
Fended off Nigerian challenger
Kim was the first US nominee to face a challenger when Nigeria's Ngozi Okonjo-Iweala entered the contest. But this year Kim received the US endorsement almost immediately after the window for nominations for the term beginning next July opened, perhaps to avoid a repeat of 2012.
Founded in 1944, the World Bank is a global financial lender that gives loans to developing countries with the official stated goal to reduce poverty. However its charter requires its decisions to promote foreign investment and international trade, which critics say put the interests of transnational finance and richer countries ahead of easing global poverty.
According to tradition spanning more than 70 years, its leaders have all been US citizens while the International Monetary Fund, its sister lending organization, has always been headed by a European national.
jar/kl (AFP, dpa)