On the eve of the publication of the global economic prospects of the multilateral institution, his boss prematurely leaves office. World Bank President Jim Yong Kim, who ran the institution since 2012 and whose term would normally expire in 2022, announced his resignation on Monday (January 7th).
In a statement, the World Bank says Jim Yong Kim will join “a company” and focus “on infrastructure investments in developing countries”. At the same time, he will join the Board of Directors of Partners In Health (PIH), an organization he co-founded more than 30 years ago.
The bank’s current chief executive, Kristalina Georgieva, will take over as interim director. Meanwhile the personality that will propose Donald Trump. “It has been a great honor to serve as president of a remarkable institution, with a passionate staff dedicated to its mission of eradicating extreme poverty in our lifetime,” writes Kim.