WASHINGTON: US President Donald Trump's pick to lead the World Bank faces a clear path toward approval as a nomination deadline passed on Thursday ...
WASHINGTON: US President Donald Trump's pick to lead the World Bank faces a clear path toward approval as a nomination deadline passed on Thursday with no challengers, continuing the tradition of the United States choosing the development lender's president.
The United States is the largest shareholder with 16 percent of its voting power and has chosen its leaders since it began operation in 1946. Kim faced off against candidates from Nigeria and Colombia in 2012 under a then-newly-open nominations process, but bank board members have said there was little appetite to challenge Washington's nominee this time around.
He also has touted his role in negotiating World Bank lending reforms aimed at focusing more resources on poorer countries as part of a US$13 billion capital increase last year.
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