You are here: Home » PTI Stories » International » News
Business Standard

World Bank Group President Jim Yong Kim to step down on Feb 1

Press Trust of India  |  Washington 

In a surprise move, World Bank Kim on Monday announced that he will step down from his position on February 1.

Kim, 58, has been in this position for over six years now.

The of the World Bank has always been an American citizen nominated by the United States, which is the largest shareholder of this multilateral financial institution.

"It has been a great honour to serve as of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime," said Kim.

Kristalina Georgieva, World Bank CEO, will assume the role of effective February 1.

"The work of the 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 said.

"Serving as President and helping position the institution squarely in the middle of all these challenges has been a great privilege," Kim said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 07 2019. 22:30 IST
RECOMMENDED FOR YOU