The World Bank chose Korean-American physician Jim Yong Kim as its next chief on Monday in a decision that surprised few despite the first-ever challenge to the US lock on the Bank's presidency.

The

Colombia's Jose Antonio Ocampo withdrew from the race to lead the World Bank, endorsing Nigerian Ngozi Okonjo-Iweala's challenge against the favored US candidate, Colombian media reported.

But that

World Bank issued a report stating the ‘fraudulent and corrupt’ practices employed by private contractors working on Indian highway projects, funded by the bank.

The Bank estimates malpractices sums

US nominee for World Bank President's post Jim Yong Kim on Tuesday met Finance Minister Pranab Mukherjee and is believed to have sought India's support for his candidature.

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Japan will support Jim Yong Kim, the U.S. nominee for the next World Bank head, Japanese Finance Minister Jun Azumi said on Sunday after meeting the candidate who is in Tokyo on his world tour to seek

Seeking to reinforce their growing economic heft with diplomatic clout, the BRICS grouping on Thursday pitched for a bigger say in global governance institutions, including the UN and the IMF, and tol

In an effort to solicit global support for his bid for the World Bank presidency, US President Barack Obama's nominee Jim Young Kim is undertaking a two-week 'listening' tour of India, China and five

The World Bank announced here on Friday that Jim Yong Kim from the US, Nigeria's Ngozi Okonjo-Iweala and Colombia's Jose Antonio Ocampo are the three candidates for the bank presidency.

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Nigeria's finance minister will run for the World Bank top job, her South African counterpart announced on Friday, the deadline for nominations to succeed Robert Zoellic.

"We are proud to confirm tha

The US raced against time to nominate a top notch candidate for the World Bank presidency before Friday's deadline after developing countries ramped up the pressure by putting forward two credible