Jim Yong Kim has resigned as the World Bank President six years after holding the position.
He will leave the office on February 2019, three years before his retirement scheduled for 2022.
Without giving any reason for his retirement, World Bank said he will “join a firm and focus on increasing infrastructure investments in developing countries.”
In a statement, Kim said “It has been a great honor to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime.”
“The World Bank Group is more important now than ever as the aspirations of the poor rise all over the world and problems like climate change, pandemics, famine and refugees continue to grow in both their scale and complexity,” he added.
Kristalina Georgieva, the World Bank’s chief executive officer, will take over as the interim president.
