reaking: World Bank president, Jim Yong Kim resigns

World Bank President, Jim Yong Kim has
announced that he would step down next
month, more than three years before his
current term was due to expire.
The decision ends Kim’s six-year tenure and
may give US President Donald Trump decisive
influence over the future leadership of the
189-member global development lender.
“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, 59, said in a statement.
Kim, who became the bank’s president in
2012, is to join an unnamed firm focusing on
investments in developing countries, the bank
said in a statement, and will return to the
board of Partners-in-Health, which he co-
founded. World Bank CEO Kristalina Georgieva
will serve as interim president upon Kim’s
February 1 departure, the bank said in a
Under Kim’s leadership, the bank set the goal
of eliminating extreme poverty by 2030 and
ramped up financing. Last year, it also won
approval for a sharp $13 billion capital
increase after acceding to requests from the
Trump administration to curb loans to high-
income countries like China.

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