President Of World Bank, Jim Yong Kim, Resigns

An unexpected resignation by Jim Yong Kim, President of World Bank, was announced on Monday. His resignation will be effective from February 1st, nearly 3 years before his term was set to expire.

Mr. Jim will leave the bank to join a firm focusing on infrastructure investments and Kristalina Georgieva, CEO of World Bank, will serve as interim president effective from February 1st.

Mr. Jim was appointed president of World Bank by President Obama in 2012 and in 2016 he was appointed to a new term lasting through 2021.

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