World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
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The 59-year-old will be leaving the World Bank on February 1 to join an unnamed company. Jim Yong Kim's second term at the head of the development bank was scheduled to end in three years. World Bank President Jim Yong Kim - Photo: Reuters. World Bank President Jim Yong Kim will resign effective February 1, the development bank said on Monday, more than three years before his term ends in 2022. "It has been a great honor to serve as president of this remarkable institution," said Kim, who is joining a private company focused on investments in the developing world. In a letter to bank staff, he said he wanted to leave the organization to "take on new challenges and fully focus my efforts on leveraging private finance for the benefit of people." The bank's chief executive officer, Kristalina Georgieva, will become interim president after Kim's departure. Another US citizen at the top? Kim began his second term as president in July 2017. He succeeded Robert Zoellick in 2012 … [Read more...] about World Bank President Jim Yong Kim resigns
World Bank President Jim Yong Kim delivers a speech in Beijing,China, on Nov 6, 2018. (Nicolas ASFOURI/AFP) The decision is likely to give US President Donald Trump decisive influence over the next leadership of the institution although Washington's control over the 189-member global development lender has faced mounting criticism. "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, 59, said in a statement. Kim, who became the bank's president in 2012, is set 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, a non-profit group he co-founded. World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's Feb 1 departure, the bank said in a statement. Under Kim, the bank set the goal of eliminating extreme poverty by 2030 and … [Read more...] about World Bank President Jim Yong Kim announces resignation
U.S. President Donald Trump said he had forged a "good relationship" with North Korean leader Kim Jong Un at the start of a historic summit in Singapore on Tuesday, as the two men sought ways to end a nuclear standoff on the Korean peninsula. Kim said the meeting was "a good prelude to peace", but there was no immediate word on any substantive progress in their discussions. Should they succeed in making a diplomatic breakthrough, it could bring lasting change to the security landscape of Northeast Asia, like the visit of former U.S. President Richard Nixon to China in 1972 led to the transformation of China. Both men had looked serious as they got out of their limousines for the summit at the Capella hotel on Singapore's Sentosa, a resort island with luxury hotels, a casino, manmade beaches and a Universal Studios theme park. But, with cameras of the world's press trained on them, they displayed an initial atmosphere of bonhomie as they met on the verandah of the Capella, a refurbished … [Read more...] about Trump, Kim pile on charm at summit, but no word on progress
U.S. President Donald Trump said Friday he will meet North Korea's Kim Jong Un as originally scheduled onJune 12 for a historic summit after extraordinary Oval Office talks with a top envoy from Pyongyang. After more than an hour of discussion with Kim Yong Chol, Trump told reporters that denuclearization - and a formal end to the decades-old Korean war - would be on the table in Singapore. But the U.S. president warned that he did not expect to immediately sign a deal to bring a halt to the reclusive regime's nuclear program. "I never said it goes in one meeting. I think it's going to be a process, but the relationships are building and that's very positive," he said, after waving farewell to the North Korean leader's right-hand man. Ending the war The Korean War has been largely frozen since an armistice ended hostilities, but not the underlying conflict, in 1953. Since then, there have been occasional clashes on the divided peninsula. "We talked about ending the war," Trump said. … [Read more...] about N. Korea summit back on, Trump says after meeting Kim envoy