Jim Yong Kim is new World Bank president
Kim was favoured over Nigerian Finance Minister Ngozi Okonjo-Iweala, who was supported by South Africa and other developing countries, Xinhua reported.
"The executive directors selected Jim Yong Kim as president for a five-year term beginning on July 1, 2012," the Washington-based institution said in a statement.
Kim, a Korean-American public health expert and Dartmouth University president, will succeed outgoing president Robert Zoellick, whose term expires at the end of June.
A third candidate, former Colombian Minister of Finance Jose Antonio Ocampo, pulled out of the race Friday.
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Date 10-12-13, Duration 0:51, Views 116