On September 24, 2016, it was announced that World Bank Group’s President Jim Yong Kim had been selected for a second term. Starting July 2017, Kim will continue leading The World Bank’s ongoing efforts to alleviate global poverty.
Founded in 1944, The World Bank began as an institution facilitating post-war reconstruction and development. At that time, The World Bank took on infrastructure projects to physically rebuild communities. Today, however, the organization has expanded its work to include myriad social projects.
Now, the multifaceted institution is comprised of economists, experts in public policy, social scientists and sector experts and has a portfolio of projects in agriculture, health, education and other areas of the social sector. Although reconstruction is still a focus, the group’s overlying goal is to reduce global poverty through sustainable and inclusive global prosperity.
When Jim Yong Kim, a South Korean-American physician and anthropologist, was originally elected to the presidency in 2012, The World Bank had set two bold goals: to eradicate global poverty by 2030 and to promote shared prosperity by boosting the income growth of the bottom 40 percent of the population in every developing country.
During his first term, Kim brought more structure, accountability and focus to The World Bank with clearer policies and targets, and efforts to meet those targets have been successful. Some of his greatest accomplishments came from dispersing the bank’s power and reallocating large amounts of its resources to combating climate change, addressing the Syrian refugee crisis and undertaking other initiatives that have not traditionally been within The World Bank’s scope.
He also gained much praise for his leadership in the Ebola outbreak, during which he allocated $400 million to combat the deadly virus in West Africa. Additionally, he implored the rest of the international community to invest in containing Ebola, even criticizing the World Health Organization (WHO) for its lax response.
The World Bank Group president also made a number of allies during his term, according to Africa News. When he voiced his intention to run for a second term, he gained endorsements from many countries, including South Korea, the Netherlands, Kenya, Rwanda, Togo and others.
Recognized worldwide for his invaluable experience and accomplishments prior to his election in 2012, Kim worked as an advisor to the director-general of WHO. He later rose to the position of director in WHO’s renowned HIV/AIDS department.
As he finishes his first term and looks forward to his second, one of Kim’s main focuses is making more progress toward the goal of eradicating global poverty by 2030.