The World Bank’s US-appointed president has vowed to find “innovative” ways to work with a new Chinese-led Asian infrastructure bank, welcoming it as a “major new player” in the world of development.
The overture by Jim Yong Kim comes ahead of next week’s World Bank and International Monetary Fund meetings in Washington. It also marks a split with the administration of US president Barack Obama, which nominated the doctor and former university president to head the World Bank in 2012.
With geopolitical imperatives and its competition with China for influence in the Pacific Rim in mind, the US unsuccessfully lobbied allies such as Australia, Japan and the UK not to join the nascent Asian Infrastructure Investment Bank.
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