World Bank gets interim successor as Jim Yong Kim resigns

Posted by Grand News | 8 January 2019 | 901 times


Kristalina Georgieva,

From February 1, 2019, the World Bank Group will get an interim successor in Kristalina Georgieva, following the resignation of the president, Jim Yong Kim on Monday.

Kim had said in a statement that he will be stepping down from his position after more than six years, just a little over a year into his second term.

“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,” said Kim.

“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,” he added.

Following Kim’s exit, Kristalina Georgieva, 65, the bank’s CEO is expected to lead the international organisation. Georgieva, from Bulgaria was European Commissioner for Budget and Human Resources in the college of the Juncker Commission, until 2017.

Kim’s era was remarkable as 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.

Kim has announced that, immediately after his departure, he will join a firm and focus on increasing infrastructure investments in developing countries. The details of this new position will be announced shortly.

Kim’s interim successor, Georgieva had been in the World Bank system before her appointment as the first CEO in 2017.

Born in Sofia, Georgieva holds a PhD in Economics and an MA in Political Economy and Sociology from the University of National and World Economy in Sofia, Bulgaria. She was also educated at various times at London School of Economics, Harvard and Massachusetts Institute of Technology.


Source: Grand News

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