Jim Yong Kim has said that capitalist "market-based growth is a priority for every single country". Dr Kim said that was the best way to create jobs and lift people out of poverty.  He explained that he worked for more than 25 years in developing countries.

Jim Yong Kim, the incoming president of the World Bank, said in London that market-based growth is a priority for every country, and capitalist growth is the best way to create jobs and pull people out of poverty. Kim, a Korean-American public health expert and Dartmouth University president, will succeed outgoing president Robert Zoellick, whose term expires at the end of June. Dr Kim was nominated for the top post by US President Barrack Obama. However, many critics questioned his credentials and said Dr Kim's selection was based on politics not merit.

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. Kim told that his background as a physician would help him in his new role. "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," Kim said. He added that he would consider the cultural and social peculiarities of various regions to ensure that the Bank's schemes achieve the desired results.

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.