World Bank President Jim Yong Kim announces resignation

World Bank President Jim Yong Kim announces he will step down next month, more than three years before his current term was due to expire.

From left: Japanese Prime Minister Shinzo Abe, World Bank Group president, Jim Yong Kim, US President Donald Trump, his daughter Ivanka, German Chancellor Angela Merkel and Canada’s Prime Minister Justin Trudeau pose for media at a panel discussion during the G-20 summit in Hamburg, Germany, July 8, 2017. (Michael Kappeler/Pool via AP)

“It has been a great honor to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime,” Kim says in a statement.

Kim, who took over leadership of the global lender in 2012, is to join an as-yet unnamed firm focusing on investments in developing countries.

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim’s February 1 departure, the bank said in a statement.


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