Dr. Jim Yong Kim will be the new President of the World Bank. The Korean-American health expert is President of Dartmouth College in the U.S state of New Hampshire. He faced a strong challenge for the post, which has traditionally gone to an American from Nigerian Finance Minister Ngozi Okonjo-Iweala.In a statement, the World Bank said Dr. Kim will succeed Robert Zoellick, serving a five-year term beginning from the 1st of July. Dr. Kim 52 is a doctor lauded for his pioneering role in treating HIV/Aids and reducing the impact of tuberculosis in the developing world.U.S Treasury Secretary Timothy Geithner said the new President's background would be valuable in the role. Mr Geithner said in a statement that Dr. Kim's deep development background coupled with his dedication to forging consensus will help breathe new life into the World Bank's efforts to secure fast economic growth that is widely shared.