New World Bank chief to focus on 'market-based' growth

Dr Kim was nominated for the top post by US President Barack Obama

 

The World's Bank's new president, Jim Yong Kim, has said that capitalist "market-based growth is a priority for every single country".

In an interview with the BBC, Dr Kim said that was the best way to create jobs and lift people out of poverty.
Dr Kim was chosen as the new president of the World Bank on Monday, and was the US's preferred candidate.
However, many critics questioned his credentials and said Dr Kim's selection was based on politics not merit.
Dr Kim told the BBC that while he may lack political know-how, his background as physician would help him in his new role.
He explained that he worked for more than 25 years in developing countries. At the same time, he has been lauded for his pioneering role in treating HIV/Aids and reducing the impact of tuberculosis in the developing world.
"I am a physician. Physicians work on evidence, rather than working from a single ideology, rather than working from a particular political point-of-view," Dr Kim told the BBC.
He said that he would take into account the cultural and social peculiarities of various regions to ensure that the World Bank's various schemes achieved the desired results.
"If we can focus on the evidence of what is actually working and adapt those evidence-based interventions to local context, I think we can be very successful."
The 52-year-old Korean-American will succeed the current World Bank head Robert Zoellick, and start serving a five-year term from 1 July.