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Finance & Economics

World Bank Group President to step down?

Jan 08, 2019

Jim Yong Kim to resign as?World Bank Group President February 1

World Bank Group President to step down. Source: twitter.com

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.

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. The work of the World Bank Group is more important now than ever as the aspirations of the poor rise all over the world, and problems like climate change, pandemics, famine and refugees continue to grow in both their scale and complexity.  Serving as President and helping position the institution squarely in the middle of all these challenges has been a great privilege
Jim Yong Kim, World Bank Group President

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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