WASHINGTON – Korean-American physician Jim Yong Kim took the reins of the poverty-fighting World Bank yesterday and pledged to protect developing countries at a pivotal moment for a world economy that appears to be losing steam rapidly.
Kim, former head of Dartmouth College in New Hampshire, takes the presidency at a time the euro zone debt crisis is beginning to exact a wider global toll.Growth is slowing in emerging economies from China to India to Brazil, with developing countries feeling the effects of tighter bank lending and a drop in trade financing – problems Kim will have to address as the head of the world’s top development lender.’I am both humbled and inspired to take over today as president,’ Kim told reporters before he entered the World Bank’s headquarters just blocks away from the White House. – Nampa-Reuters
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