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POST TIME: 8 January, 2019 00:00 00 AM
WB President Kim announces resignation
AFP, Washington

WB President Kim announces resignation

World Bank President Jim Yong Kim announced yesterday he would step down next month, more than three years before his current term was due to expire. The decision ends Kim's six-year tenure and may give US President Donald decisive influence over the future leadership of the global development lender.

"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," Kim said in a statement. Kim, who became president in 2012, is 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, which he co-founded.

Under Kim's leadership, the bank set the goal of eliminating extreme poverty by 2030 and ramped up financing.