President of World Bank Group to Step Down

World Bank Group President Jim Yong Kim is set to resign three years prior to his expected departure from the position. Kim was set to finish his second term in 2022 before passing the torch.

Kim was backed by former US president Barack Obama and began his first term in 2012. During his tenure, he oversaw efforts to eliminate poverty by 2030. He also sought to boost shared prosperity globally, particularly in developing countries. He is also the first World Bank Group President to have come from a professional field other than politics and finance.  He played a part in launching several innovative financial instruments. Aside from his position as president of the World Bank Group, Kim serves on the Advisory Board of Incentives for Global Health, and is also a member of the United States National Academies and the Institute of Medicine. He is credited for bringing global health into focus during his tenure.

Kim announced that he will be leaving the World Bank Group to move into the private sector. He intends to return to Partners in Health, an organization he co-founded in 1987. He stated that it has been an honor and privilege to serve as president. He is set to be replaced by the current World Bank CEO.

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6 months ago