World Bank President Jim Yong Kim announces resignation

Jim Yong Kim. (Image source: @JimYongKim) Photograph:( Twitter )

AFP Washington, DC, USA Jan 07, 2019, 10.41 PM (IST)

World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire.

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

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's February 1 departure, the bank said in a statement.

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