New York, NY (BBN)– Secretary-General Ban Ki-moon on Tuesday named former Chilean president Michelle Bachelet to head United Nations Women (UN Women), a newly created entity to oversee all of the world body’s programs aimed at promoting women’s rights and full participation in global affairs.

The new body – which will receive a large boost in funding and become operational in January – merges four UN agencies and offices: the UN Development Fund for Women (UNIFEM), the Division for the Advancement of Women (DAW), the Office of the Special Adviser on Gender Issues, and the UN International Research and Training Institute for the Advancement of Women (UN-INSTRAW).

“UN Women will promote the interests of women and girls across the globe,” the UN chief told reporters in announcing the appointment. “Ms. Bachelet brings to this critical position a history of dynamic global leadership, highly honed political skills and uncommon ability to create consensus and focus among UN agencies and many partners in both the public and private sector.”

The new entity is set to have an annual budget of at least $500 million, double the current combined resources of the four agencies it comprises.

BBN/SI/AD-15Sept10-10:24 am (BST)