Just last month, the World Bank announced it would double its investments to fight climate change to around $200 billion over the next five years. Kim told World Bank employees in an email that he was leaving the world’s largest lender and donor to poor and middle-income countries on February 1 to join a private-sector firm focused on infrastructure investments in the developing world. Kristalina Georgieva, who in 2017 became the World Bank’s chief executive officer, will assume the role of interim president when Kim departs, the bank said. Georgieva, a Bulgarian national, had previously held senior European Union posts after serving 15 years at the World Bank, starting as an environmental economist in 1993. “The world is suspicious of the Trump administration, which has a different agenda for the bank,” Sobel said in a phone interview.

Source: Dhaka Tribune January 07, 2019 23:37 UTC