World Bank's president, Jim Yong Kim resigns; Kristalina Georgieva to assume the position from February
Source :NewsBharati Date :08-Jan-2019
New Delhi, January 8: Jim Yong Kim, the president of the World Bank has abruptly resigned from his position citing the reason to join a private infrastructure investment firm. His resignation will however be assumed from the 1st of February this year. Meanwhile, Kristalina Georgieva, the World Bank's chief executive officer, will assume the role of interim president.
Kim served the institution since 2012, serving selflessly, he announced his termination 3 years before his term of position naturally expired. In a statement, 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".
"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. The opportunity to join the private sector was unexpected, but I’ve concluded that this is the path through which I will be able to make the largest impact on major global issues like climate change and the infrastructure deficit in emerging markets he added.
“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.”, he asserted further stressing over the schedule credibility.
The outgoing president would join a firm focussing on investments in the developing countries and return to the board of a health organisation he founded three decades ago.
The Trump administration has enjoyed a close working relationship with Kim. Donald Trump has previously praised Kim, calling him a friend and a great guy, and suggesting he himself might have selected him.