Update at 10:12 a.m. ET. It's Official:
"It's time for a development professional to lead the world's largest development agency," President Obama just said as he announced he is nominating Dartmouth College President Jim Yong Kim to head the World Bank.
Our original post:
"President Barack Obama will nominate Dartmouth College President Jim Yong Kim to head the World Bank," The Associated Press reports, citing "senior administration officials" as its sources.