World Bank Group President, Jim Yong Kim has announced that he will be stepping down from his position after more than 6 years.
Jim Young made the announcement on Monday at the international lending institution.
World Bank CEO Kristalina Georgieva will assume the role of interim president effective Feb.1, the World Bank said in a statement
Kim’s resignation from the World Bank was unexpected as he was appointed to a second five-year term as president of the multilateral development bank in 2016.
Kim first became the 12th president of the World Bank on July 1, 2012. Before this post, he served as president of the famous U.S. academic institution Dartmouth College.
