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?
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
SEOUL — North Korea’s leader Kim Jong Un discussed future talks with the US at a party meeting, state media reported on Tuesday, in his first official mention of dialogue with Washington ahead of a planned summit with President Donald Trump. Trump agreed last month to a landmark summit with the nuclear-armed North -- which would be the first between a sitting US president and a North Korean leader -- but no specific dates or venue have been set, with questions mounting over Pyongyang’s participation. At the meeting of party officials on Monday, Kim discussed the "development of the north-south relations at present and the prospect of the DPRK-US dialogue", the official KCNA news agency said, referring to the North by its official acronym. He delivered a report "on the development of the recent situation on the Korean peninsula", including the separate summit with South Korea to be held later this month, it said. In a growing rapprochement on the Korean … [Read more...] about Kim makes first official mention of US-N.Korea talks
North Korean leader Kim Jong Un Sunday attended the first concert in Pyongyang for over a decade by South Korean entertainers, including a K-pop girlband, the latest gesture of reconciliation before a rare inter-Korean summit. The visit, described by many as a cultural charm offensive by the South, came as a diplomatic thaw quickens on the peninsula after months of tensions. The 120-member group, 11 musical acts as well as dancers, technicians and martial artists, gave one concert on Sunday with another set for Tuesday. Kim and his wife, a former singer herself, came to watch Sunday's show, making him the first leader of the North to attend a concert by South Korean performers. Kim shook hands and took photos with the stars backstage, saying inter-Korean cultural events should be held more often and suggesting another event in the South Korean capital this autumn, pool reports said. The young couple were seen clapping their hands during the two-hour event, also attended by Kim's … [Read more...] about Kim Jong Un attends rare concert by South Korean pop stars