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World Bank President Jim Yong Kim announces resignation

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's 1 February departure.

FILE: World Bank President Jim Yong Kim attends a news briefing after the Third Round Table Dialogue in Beijing on 6 November 2018. Picture: AFP

WASHINGTON - World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire.

"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," Kim said in a statement.

Kim, who took over leadership of the global lender in 2012, is to join an as-yet-unnamed firm focusing on investments in developing countries.

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's 1 February departure, the bank said in a statement.

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