World Bank Group President Jim Yong Kim on Monday announced that he will be stepping down from his position after more than six years in office.
“It has been a great honor to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime,” said Kim in a statement. “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. Serving as President and helping position the institution squarely in the middle of all these challenges has been a great privilege.”
A press release by the World Bank Group said the outgoing president would join a firm focusing on infrastructure investments in the developing world.
In addition to working on infrastructure investments, Kim announced that he will also be re-joining the board of Partners In Health (PIH), an organization he co-founded more than 30 years ago.
He said: “I look forward to working once again with my longtime friends and colleagues at PIH on a range of issues in global health and education. I will also continue my engagement with Brown University as a trustee of the Corporation and look forward to serving as a Senior Fellow at Brown’s Watson Institute for International and Public Affairs.”
Kristalina Georgieva, World Bank CEO, will assume the role of interim President effective February 1.