Dr. Jim Yong Kim, the new head of the World Bank, said Monday that his institution will endeavor to help boost prosperity and eradicate poverty worldwide.

Meeting the press formally for the first time since the start of his five-year tenure, Kim said he assumed the presidency of the World Bank "at a pivotal moment for the global economy."

He said the Washington-based organization is the "most important development institution in the world."

"I'm very excited to get going, and I want to say to everyone here today that we will continue to do our work at the World Bank with innovation, with analytic rigor, and with great passion, working in partnership with governments, with civil society organizations, with the private sector and, most importantly, with the people living in poverty we aspire to serve," he added.

The World Bank has 188 member nations and around 9,000 staff members.

He thanked his predecessor, Robert Zoellick, for leaving him with such a strong agency.

Kim, a Korean-born physician, took up the post on Sunday, replacing Zoellick, who plans to work at the Peterson Institute for International Economics in Washington.

Kim, 52, is known for his tireless efforts to address health problems in the developing world, especially the treatment of HIV/AIDS and tuberculosis.

Kim served as Dartmouth College's president for the past three years. He was the first Asian-American to assume the top job at an Ivy League institution.

Kim read a statement at the entrance of the World Bank headquarters and then went inside without taking questions. (Yonhap News)