WASHINGTON, January 23, 2013—World Bank Group President Jim Yong Kim today released the following statement on the death of former World Bank President A.W. “Tom” Clausen:
“The World Bank Group sadly notes the passing of Tom Clausen, the sixth president of the World Bank from 1981 to 1986. Tom was very much a champion of developing countries, as early as the 1970s when he was president and CEO of the Bank of America, which at the time was the largest bank in the United States.
At the World Bank, Tom’s five-year tenure came amid a tumultuous global economic period marked by one of the worst recessions since World War II. His leadership made a significant difference in the lives of the poorest in the world by helping lower interest rates on World Bank loans to developing countries as well as speeding loan disbursements. In response to a world energy crisis, Tom also was instrumental in expanding the Bank’s energy portfolio, including earmarking major funding for hydroelectric power projects. We at the World Bank Group greatly appreciate Tom’s many contributions to developing countries and we send our condolences to his family.”