World Bank agrees to name Jim Yong Kim to 2nd term as President

The board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as President. Kim had been the only candidate in a process. In a statement announcing the decision, the Bank's board offered a strong endorsement of Kim's record, including



setting the goal of eliminating extreme global poverty by 2030. 

The board also said an effort under Kim to cut bank spending had reduced administrative costs by 400 million dollars, money then reinvested to support the bank's goals.