World Bank President Kim wins second five-year termSeptember 15, 2016 - 10:22 AMT PanARMENIAN.Net - World Bank President Jim Yong Kim effectively won a second five-year term after nominations to lead the global development bank closed with no other candidates proposed, AFP said. The World Bank executive board said in a statement that, following official procedures, it would formally meet with Kim as a candidate "with the expectation of completing the selection process by the 2016 Annual Meetings," which take place on October 7-9. Kim, 56, a Korean-American medical doctor who has focused the World Bank on programs to reduce extreme poverty, earned solid backing for a second term from the United States, France, Germany, China, and other major shareholders of the bank. But as with his first nomination in 2012, the bank was criticized from inside and outside for not truly opening the selection process to all comers and not managing it in a fully transparent mode. Following an unwritten rule, since the World Bank was created in the wake of World War II to help rebuild the global economy, its leader has always been an American chosen by Washington. In 2012, Kim did face competition when Nigerian Finance Minister Ngozi Okonjo-Iweala also contended for the presidency. But no rivals surfaced during the three-week nomination period this time around, leaving Kim virtually assured of continuing in the job when his first term ends on June 30, 2017. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. |