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Climate change, forced displacement, pandemics in focus for Jim Yong Kim during second term as World Bank President


Big News Network.com
28 Sep 2016

NEW YORK, U.S. - World Bank President Jim Yong Kim has been re-appointed for a second term to lead the 189-nation global lending institution, the bank announced on Wednesday.

The 56-year-old recently received the U.S. nomination for "effectively" addressing a host of challenges and his second five-year term as World Bank president is set to begin from July 1, 2017.

In an official statement, Jim Yong Kim said that during his second term, his highest priority would be driving institutional stability and deeper staff engagement at the bank.

He said, “Humbled to have the honour of serving a second term as the head of this great institution. I would focus on building a more inclusive world free of poverty.”

He explained that when he had joined the Bank in 2012, he had set two ambitious goals for the institution: To eradicate extreme poverty by 2030 and to promote shared prosperity by boosting the income growth of the bottom 40 percent of the population in every developing country.

He added in his statement, “In order to deliver these goals, the Bank had to accelerate, become bolder and more agile, and reposition itself. We did this so that we could increase support for countries and deliver better results more quickly. I believe we are well on the way to achieve these important aims.”

Explaining his agenda for the second term, Kim explained, “The challenges going forward remain large, with climate change, forced displacement and pandemics threatening the gains we have made to improve the lives of billions. We will need to work even more closely with partners and continue to find new and innovative ways to leverage scarce development resources effectively.”

The Bank’s board members are said to have highlighted his “leadership and vision” and said that Kim had encouraged the institution to advance its work on climate change, both in intellectual leadership and in financing.

They pointed at the 2015 announcement to increase climate financing potentially to 28 percent of total commitments by 2020, based on client demand.

Earlier this month, U.S. Treasury Secretary Jacob Lew had said in a statement, “I am proud to announce that today the United States has nominated World Bank President Jim Kim for a second term. President Kim has used his first term to focus the World Bank on effectively addressing today's most pressing global development challenges in innovative ways, from ending extreme poverty and tackling inequality, to combating climate change. Re-electing President Kim will allow the World Bank to continue to build on these important initiatives and reforms.” 

The U.S. official had also heaped praise on Kim's leadership in responding to pressing issues like the Ebola pandemic and addressing the refugee crisis. 

Lew had underscored Kim's sponsorship of "needed" reforms at the bank, set up in 1944 along with its sister organisation - International Monetary Fund.

Kim had also reportedly received unofficial backing from a number of key shareholders, including China and Germany.

Born in South Korea, Kim studied medicine and anthropology at Harvard, and served as president of Dartmouth College before leading the World Bank.

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