“We congratulate Dr. Jim Yong Kim as he formally assumes office as the World Bank’s 12th President.

“These are uncertain times for the global economy and it is critical for an institution such as the World Bank to ensure that it is empowered to fulfill its mandate of creating prosperity for all. We are confident that Dr. Kim will ably lead the agency in providing technical and financial support to countries working towards economic development and poverty reduction.

“We in the Philippines have supported Dr. Kim’s candidacy from the very beginning and as he assumes the position we assure him of our continued support to the World Bank Group and we look forward to working with him in further pushing for greater representation and deeper democratization within the Bank, as well as in implementing effective and sustainable ways of boosting prosperity and eradicating poverty across the globe.”