Obama Taps New World Bank Chief

President Obama is set to nominate Dartmouth College president Jim Yong Kim to lead the World Bank, senior administration officials have confirmed to the Associated Press. Officials are hopeful that the nomination of Kim, a doctor and former director of the HIV/Aids department at the World Health Organization, will quell criticism from developing countries who are wary of the U.S. “monopoly” on the World Bank presidency. Former World Bank president Robert Zoellick announced in February that he was stepping down. The World Bank is dedicated to promoting development and lending money to impoverished countries for infrastructure projects.