Kim announced on Monday that he was resigning as the bank’s president, some three years remaining to the end of his second term, Financial Times reported.
Treasury Undersecretary for International Affairs David Malpass and head of the US Agency for International Development Mark Green are also being named as other potential nominees.
The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.
According to Newsweek, the World Bank president is chosen by the bank’s board, with the voting shares distributed based on how much money each country has given to the bank. A deal between the US and European shareholders has ensured that the US candidate is selected to run the World Bank while the Europeans lead the International Monetary Fund. This arrangement has been increasingly criticized by countries like China, however.
MNA/PR