Reply #54: The World Bank is a multi-national institution with 184 member countries.

[mcscajun]

The president of the World Bank Group is chairman of the Bank’s Board of Executive Directors and president of five interrelated organizations. The President is selected by the Bank's Board of Executive Directors. The Articles of Agreement do not specify the nationality of the president, but by custom the United States executive director makes a nomination. By a long-standing, informal agreement, the president of the Bank is a United States national, while the managing director of the International Monetary Fund is a European. The initial term is five years while a second term could be five years or less.

More info on the World Bank here: http://tinyurl.com/5hel2

It is my understanding that this appointment is subject to Senate confirmation, but I could be wrong about that.