ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Jim Yong Kim gets second term as World Bank's President

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Jim Yong Kim gets second term as World Bank's President
Jim Yong Kim, President, World Bank. Image Source: AFP

The board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced on Tuesday.

Kim had been the only candidate in a process criticised by World Bank staff and campaigners as lacking in transparency and dominated by the United States (US).

In a statement announcing the decision, the 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 reorganisation to promote better coordination which provoked staff dissent.

The board also said an effort under Kim to cut bank spending had reduced administrative costs by $400 million (nearly Rs 2661.1 crore), money then reinvested to support the bank's goals.

"Chairs expressed satisfaction that this Expenditure Review is on track, allowing the organisation to increase its support for countries and focus on delivering results more quickly," the statement said.

Following an unwritten rule, the United States (US), the Bank's largest shareholder, has chosen all World Bank presidents since the institution's creation after the Second World War. But when he was nominated for a first term in 2012, Kim was the first US nominee to face a challenger when Nigeria's Ngozi Okonjo-Iweala entered the contest.

Kim received the US endorsement almost immediately after the window for nominations for the term beginning next July opened, perhaps warding off challengers and avoiding a repeat of 2012.

However, the Bank's staff association last month delivered a stinging broadside, citing high levels of disaffection among its 15,000 employees and asserting that the Bank faced a "crisis of leadership."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Jim Yong KimEconomyWorld BankUnited StatesUSNgozi Okonjo-Iweala
Written By: AFP
Updated: Wed, Sep 28, 2016
04:46 pm
Washington , AFP
RELATED NEWS
World Bank's Jim Yong Kim launches bid for second term as president World Bank's Jim Yong Kim launches bid for second term as president
World Bank chief Jim Yong Kim heads for second term World Bank chief Jim Yong Kim heads for second term

LATEST NEWS

US Stock Market: S&P 500, Nasdaq jump after Fed hikes rate along expected lines, Jerome Powell switches to a dovish tone

India Vs Australia Schedule 2023: Ind v Aus Test match dates, venue, time table, squads, Live streaming, when and where to watch, other details

Bank of England hikes interest rate for tenth time in row as global economies race to combat sky-high inflation

Should you buy, hold or sell ITC, Britannia, HDFC Life, SBI Life, Titan, Zomato shares now?

Budget 2023: Rail stocks continue to rise on the back of record railway capital outlay

TCS, Infosys, Wipro gain momentum; here's what experts recommend

Budget 2023: What are key takeaways for Tech, Startup sector? Experts opine

Mumbai-Solapur, Mumbai-Shirdi Vande Bharat Express: Trains to reach Mumbai this week ahead of inauguration on Feb 10 - Check route and other details

CBSE Admit Card Class 10, 12 to be released soon on cbse.nic.in: Check steps to download

Budget 2023: Rs 28,138 crore allocated to meet requirements for One Rank One Pension

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV