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.
Developing nations waged an unsuccessful challenge to Kim, 52, a physician and pioneer in treating HIV/AIDS and tuberculosis in the developing world. Kim's selection marks a break from previous World Bank leaders who were typically political, legal, or economic figures. The World Bank raises money from its member nations and borrows from investors to provide low-cost loans to developing countries. (Read more World Bank stories.)