World Bank President Resigns

World Bank President surprisingly resigns 3 years before his tenure is due to end

The president of the World Bank, Jim Yong Kim has tendered his resignation three years before his term of service was scheduled to end. Kim says he will join a private equity firm (Global Infrastructure Partners) as a partner and vice president when he steps down from being World Bank president next month. According to the report, Kim will not be allowed to deal with the World Bank during his first year in his new organization.