World Bank President Jim Yong Kim resigns

WASHINGTON: World Bank Group President Jim Yong Kim will resign effective February 1, more than three years ahead of the expiration of his term in 2022, the multilateral lender said on Monday.

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

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The bank did not provide further details. Kristalina Georgieva, the World Bank’s chief executive officer, will assume the role of interim president when Kim departs.

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