New World Bank Head Stakes Out Own Ground

(AP) - Jim Yong Kim, an American who is president of Dartmouth College, has been chosen to be the next president of the World Bank. His selection extends the United States' hold on the top job at the 187-nation development agency. Kim, a surprise nominee of President Obama, was selected in a vote by the World Bank's 25-member executive board. He'll succeed Robert Zoellick, who's stepping down after a five-year term. More»

Dartmouth president Jim Yong Kim expected to be announced today

(AP) - President Obama will nominate Dartmouth College President Jim Yong Kim to head the World Bank, a surprise pick for the international financial institution's top job, senior administration officials say. The Korean-born Kim is a physician by training and a prominent figure in global health and development circles. Officials believe his experience will help counter criticism from developing countries that have grown weary of the US stranglehold on the World Bank presidency. Obama took a strong personal interest in filling the World Bank vacancy after current president Robert Zoellick announced in February he was stepping down. More»

Aid to developing nations must be maintained, bank president warns

(NEWSER) - The head of the World Bank cautioned yesterday that the economic crisis could hit developing countries the hardest, and pledged the bank’s support in helping those nations protect their poor, reports AP. Bank president Robert Zoellick warned that aid to impoverished regions must continue to flow even as the US and Europe struggle to bail out their own economies. More»

Harrison Ford, Bo Derek on board with World Bank effort to preserve habitats

(NEWSER) - Actors Bo Derek, Harrison Ford, and Robert Duvall helped the World Bank kick off a tiger-preservation campaign yesterday in Washington, CNN reports, with efforts to save the endangered species' habitats atop the list. Derek, who works with the US State Department to fight trafficking, says the tiger initiative should stem "loss of habitat" and "demand for their body parts, mainly in Asia." More»

Millions at risk of starvation

(NEWSER) - The World Bank is offering an emergency $1.2 billion in aid to several nations in a desperate bid to stave off starvation for millions of people, reports the BBC. The money is being offered to Haiti, Liberia, Djibouti, Togo, Yemen and other nations identified as at immediate risk from rising food prices. The bank will pour another $2 billion into agricultural programs next year. More»