World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
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World Bank President Jim Yong Kim - Photo: Reuters. World Bank President Jim Yong Kim will resign effective February 1, the development bank said on Monday, more than three years before his term ends in 2022. "It has been a great honor to serve as president of this remarkable institution," said Kim, who is joining a private company focused on investments in the developing world. In a letter to bank staff, he said he wanted to leave the organization to "take on new challenges and fully focus my efforts on leveraging private finance for the benefit of people." The bank's chief executive officer, Kristalina Georgieva, will become interim president after Kim's departure. Another US citizen at the top? Kim began his second term as president in July 2017. He succeeded Robert Zoellick in 2012 under former US President Barack Obama. His departure will give President Donald Trump the opportunity to appoint a replacement at the helm of the 189-member bank. The organization, which is … [Read more...] about World Bank President Jim Yong Kim resigns
World Bank President Jim Yong Kim delivers a speech in Beijing,China, on Nov 6, 2018. (Nicolas ASFOURI/AFP) The decision is likely to give US President Donald Trump decisive influence over the next leadership of the institution although Washington's control over the 189-member global development lender has faced mounting criticism. "It has 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, 59, said in a statement. Kim, who became the bank's president in 2012, is set to join an as-yet unnamed firm focusing on investments in developing countries, the bank said in a statement, and will return to the board of Partners In Health, a non-profit group he co-founded. World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's Feb 1 departure, the bank said in a statement. Under Kim, the bank set the goal of eliminating extreme poverty by 2030 and … [Read more...] about World Bank President Jim Yong Kim announces resignation
On September 27th, the leaders of the World Bank agreed to reappoint Mr. Jim Yong Kim for a second five-year term as World Bank President. "I am humbled to have the honour of serving a second term as the head of this great institution. I would focus on building a more inclusive world free of poverty," Kim said in a statement. "We will need to work even more closely with partners, and continue to find new and innovative ways to leverage scarce development resources effectively." he added. The World Bank said that Mr Kim would focus in the long-term on three main areas: facilitating global economic growth, investing in human capital and protecting the economy from downside risks. Kim became the 12th president of the World Bank on July 1st, 2012. Before this post, he served as president of the famous US academic institution Dartmouth College. Mr. Kim was born in the Republic of Korea but moved to the United States when he was young and became a citizen. He is to begin his second term … [Read more...] about Jim Yong Kim reappointed as World Bank President
On September 14th, World Bank President Jim Yong Kim won a second five-year term after nominations to lead the global development bank closed with no other candidates proposed. Jim Yong Kim, born on December 8th, 1959, is a Korean-American physician and anthropologist who has served as the 12th President of the World Bank since July 1st, 2012. A global health leader, he was formerly the Chairman of the Department of Global Health and Social Medicine at Harvard Medical School, and a co-founder and executive director of Partners In Health before serving as the President of Dartmouth College from 2009 to 2012, becoming the first Asian American President of an Ivy League institution. Kim was named the world's 50th most powerful person by Forbes Magazine's List of the World's Most Powerful People in 2013. Kim’s first term has been marked by his campaign to eradicate extreme poverty by 2030; the Bank’s leadership in a 2014 campaign to halt the deadly outbreak of Ebola in West … [Read more...] about Jim Yong Kim heads for second term as World Bank President