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October 17, 2019
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World Bank President Jim Yong Kim resigns

WASHINGTON: World Bank President Jim Yong Kim has announced to resign next month.

Jim Yong Kim said he is going to step down next month, more than three years before his current term was due to expire.

Kim said in a statement that it had 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.

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.