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World Bank starts presidential selection process

Xinhua, August 24, 2016 Adjust font size:

The World Bank Group announced Tuesday that its board of executive directors have decided to kick off the process to select the group's president.

The decision was made following notification from the current World Bank President Jim Yong Kim that he would be interested in a second term. Kim's term expires on June 30, 2017.

The World Bank said it would follow the principles that were used for the selection in 2012, when Kim was appointed.

Nominations for the position by the bank's executive directors will open on Aug. 25 and close on Sept. 14, said the World Bank.

Following the close of the nomination process, the executive directors will decide on a shortlist of up to three candidates and then conduct interviews with the candidates.

Local media reported that Kim received backing from several major shareholders, including the United States, for a second term. Endi