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American Jim Yong Kim is chosen to lead World Bank

By The Associated Press

This article was published April 16, 2012 at 12:07 p.m.

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President Barack Obama stands with Jim Yong Kim, his nominee to be the next World Bank President, in the Rose Garden of the White House in Washington, Friday, March 23, 2012. Kim is currently the president of Dartmouth College.

— Jim Yong Kim, an American who is president of Dartmouth College, has been chosen to be the next president of the World Bank. His selection extends the U.S. hold on the top job at the 187-nation development agency.

Kim, a surprise nominee of President Barack Obama, was selected in a vote by the World Bank's 25-member executive board. He'll succeed Robert Zoellick, who's stepping down after a five year term.

Developing nations waged an unsuccessful challenge to Kim, 52, a physician and pioneer in treating HIV/AIDS and tuberculosis in the developing world.

Kim's selection marks a break from previous World Bank leaders who were typically political, legal or economic figures.

The World Bank raises money from its member nations and borrows from investors to provide low-cost loans to developing countries.

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