World Bank president to resign

Baku. 8 January. REPORT.AZ/ The World Bank has confirmed a recent report on its current President Jim Yong Kim's decision to resign, also naming an interim president.

Report informs citing Sputnik International that Kristalina Georgieva will assume the role of interim president effective February 1. The organisation also confirmed that Jim Yong Kim had stated his intention to resign on the same date.

"World Bank Group President Jim Yong Kim today announced that he will be stepping down from his position after more than six years", the statement said. "Kristalina Georgieva, World Bank CEO, will assume the role of interim President effective February 1".

The official reason behind Jim Yong Kim's decision to leave his post before the expiration of his term in 2022 is his desire to return to working in the private business sector.

Jim Yong Kim, a Korean-born American, has been head of the World Bank since 1 July 2012 and was set to be in this position for five years. He was re-elected in 2016.