Jim Yong Kim resigns as World Bank president after 6-year service

Jim Yong Kim resigns as World Bank president after 6-year service

- The president of the World Bank, Jim Yong Kim, has reportedly stepped down from his position

- Kim, who served the apex bank for six year, will join a firm and focus on increasing infrastructure investments in developing countries

- Kim's resignation came as a surprise to the world as no reason was given for his decision

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The president of the World Bank, Jim Yong Kim, has reportedly stepped down from his position as the world apex bank boss after six years of extensive service global economy and finance institution.

Kim's resignation, according to BBC report, will take effect from Friday, February 1, 2019, and he will "join a firm and focus on increasing infrastructure investments in developing countries."

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Briefly.co.za gathers that Kim's resignation came as a surprise to the world as no reason was given for his decision.

The 59 year old was not due to leave until 2022 after he was re-elected for a second five-year term in 2017.

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Announcing his decision, Kim said: "It has been a great honour to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime".

Kristalina Georgieva, the World Bank's chief executive officer, will assume the role of interim president from February 1.

Kim, a Korean American was nominated by the Obama administration, and he was up against a Colombian and Nigeria's Okonjo Iweala when he was first appointed.

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Source: Legit.ng

Source: Briefly.co.za

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