World Bank Group President Jim Yong Kim has announced that he will be stepping down from his position on February 1, 2019, after more than six years in which the institution’s shareholders provided strong support to multiple initiatives, to ensure that the Bank Group retains strong leadership in the world of global development. Kristalina Georgieva, World Bank CEO, will effectively thereafter assume the role of interim President. “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. Over the past 6+ years, the institutions of the World Bank Group have provided financing at levels never seen outside of a financial crisis. On January 7, 2019, he announced that he would be stepping down from his current role as President, effective February 1, 2019.

Source: Daily Observer January 09, 2019 02:15 UTC