WORLD News


World Bank announces selection process for next president

Last update: 11/01/2019
WASHINGTON, Jan 11 (Bernama) -- The World Bank on Thursday outlined the selection process for the next president to replace Jim Yong Kim, who suddenly announced an early departure from the multilateral development bank earlier this week, Xinhua new agency reported, quoting a statement by the World Bank.

Following a board meeting on Wednesday, the board of executive directors of the World Bank affirmed its commitment to an "open, merit-based and transparent" selection process, the World Bank said.

"The Executive Directors agreed that candidates should be committed to the implementation of the Forward Look and the capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper," the statement said.
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