World Bank President Jim Yong Kim formally declared his intention to seek a second term, as the bank’s executive directors approved a new, three week process to select the institution’s next leader.
In a board meeting Tuesday, the bank’s executive directors expressed “unanimous support for an open, merit-based and transparent selection, with nominations open to all member countries and transparent consideration of all candidates by the board.” Countries will have until Sept. 14 to submit nominees to challenge Kim.
Although more open to outside input than in the past, the relatively short window for nominations seems to pave the way for Kim’s reappointment. It has disappointed critics within the bank who had called for a more competitive selection process.