World Bank President Jim Yong Kim on Tuesday formally launched a bid for a second five-year term as head of the multilateral development lender, whose board pledged an “open, merit-based, and transparent” selection process.

Kim, a global public health expert and former Dartmouth College president, notified the board of his intention to continue in the bank’s top job after the end of his current term on June 30, 2017, the bank said.

The notification typically kicks off a new selection process, and the bank said it would follow criteria adopted for the 2012 selection, when Kim was first appointed president.

Nominations for the position via the bank’s executive directors will open on Thursday and will close on Sept. 14.