Jim Yong Kim will quit Feb 1
World Bank leader Jim Yong Kim announced his resignation today in a surprise move more three years before his term is set to end. He will join a firm focused on infrastructure investments.
The 59-year-old said in a statement: "The opportunity to join the private sector was unexpected but I've concluded that this is the path through which I will be able to make the largest impact on major global issues like climate change and the infrastructure deficit in emerging markets."
The US traditionally appoints the leader of the World Bank but other blocs have been angling for more say. Bulgarian national Kristalina Georgieva will take over as interim president but she's more a European pick, having formerly been the EU finance chief.
