Jim Yong Kim to resign as World Bank Group President February 1
World Bank Group President Jim Yong Kim announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development.
Under Kim’s leadership, and with the backing of the Bank Group’s 189 member countries, the institution in 2012 established two goals: to end extreme poverty by 2030; and to boost shared prosperity, focusing on the bottom 40% of the population in developing countries. These goals now guide and inform the institution in its daily work around the globe.
Kim has announced that, immediately after his departure, he will join a firm and focus on increasing infrastructure investments in developing countries. The details of this new position will be announced shortly. Kim announced that he will also be re-joining the board of Partners In Health (PIH), an organization he co-founded more than 30 years ago.
Kristalina Georgieva, World Bank CEO, will assume the role of interim President effective February 1.
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