World Bank
World Bank President

The World Bank Group president, Jim Yong Kim, has resigned from his position on Monday but the development will take effect from February 1.

Concise News understands that Kim’s resignation comes over three years to the end of his tenure in 2022.

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“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 said in a statement.

“Serving as President and helping position the institution squarely in the middle of all these challenges has been a great privilege.”

The World Bank Group CEO, Kristalina Georgieva, will take over the role as interim president effective February 1.