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Home / Business News / World Bank President Jim Yong Kim announces resignation

World Bank President Jim Yong Kim announces resignation

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim’s February 1 departure.

business Updated: Jan 07, 2019 22:49 IST
Agence France-Presse
Agence France-Presse
Agence France-Presse
Jim Yong Kim, President of the World Bank Group, speaks at the Milken Institute 21st Global Conference in Beverly Hills, California, US, May 1, 2018.
Jim Yong Kim, President of the World Bank Group, speaks at the Milken Institute 21st Global Conference in Beverly Hills, California, US, May 1, 2018.(REUTERS)
         

Washington, Jan 7, 2019 (AFP) - World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire.

“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 said 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.