World Bank president to resign effective Feb. 1 | Daily News

World Bank president to resign effective Feb. 1

World Bank Group President Jim Yong Kim, who was at odds with the Trump administration's policies on climate change, will resign effective Feb. 1, more than three years ahead of his term's expiration, the multilateral lender said yesterday.

Kim, 59, a physician and public health advocate, was nominated by former U.S. President Barack Obama for a first and second term. Kim had pushed financing for green energy projects and largely dropped support for coal power investments, but had avoided public clashes with the Trump administration.

Two people familiar with Kim's announcement to the World Bank executive board said he was leaving of his own accord and was "not pushed out" by the Trump administration.

President Donald Trump however, will wield strong influence in choosing Kim's successor as the United States holds a controlling share of the World Bank's voting rights. The bank president has traditionally been an American chosen by the U.S. administration.


 

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