April 14, 2021

President of the World Bank, Jim Yong Kim resigns

President of the World Bank, Jim Yong Kim resigns

The president of the World Bank (WB), Jim Yong Kim, today presented his resignation at the head of the multilateral organization, the financial institution said in a statement.

According to the note, the resignation of Kim, who has held the presidency of the World Bank for more than six years, will be effective from next February 1.

"It has been a great honor to serve as president of this remarkable institution, full of passionate people dedicated to the mission of ending extreme poverty in our lives," Kim said in announcing his resignation, according to the institution.

Kim – a 59-year-old American doctor and anthropologist expert in global health issues – he had been re-elected in September 2016 for a second five-year term as head of the World Bank, which started on July 1, 2017.

The agency stressed that, under Kim's mandate, the governors of the institution approved last April a historic capital increase of 13,000 million dollars that will allow the World Bank to help countries "achieve their development goals while responding to crises like climate change, pandemics, fragility or lack of investment in human capital ".

In addition, the institutions of the World Bank Group have provided financing at levels never before seen outside of a financial crisis.

The institution aims to end extreme poverty by 2030 and boost prosperity, focusing on 40% of the population of developing countries with fewer resources.

Kim will now join a fund focused on infrastructure investment in developing countries, details of which will be announced later, the statement said.



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