Jan. 8, 2019

Due to different concepts with US President Trump on climate change and other issues, World Bank President Jim Yong Kim resigned on the 7th. It takes effect on February 1, more than three years ahead of his term.

Kim said that he is very honored to be the president of the World Bank because everyone in it is committed to ending extreme poverty. After departing, he will instantly join a company and focus on increasing infrastructure in developing countries. He believes in this way he can make the most impact on major global issues such as climate change and emerging market infrastructure shortages. His position will be temporarily replaced by the chief executive, Kristalina Georgieva.

Jim, a doctor and former Dartmouth College president, was appointed by former US President Barack Obama in 2012. After resigning, he will rejoin the Partners in Health, a health organization he co-founded 30 years ago.

Kim promoted financing for green energy projects and largely dropped support for coal power investments. However, Trump has prioritized the revitalization of the US coal industry. Jim Yong Kim and Trump had different concepts. He initiatively resigns and avoids clashes with the Trump administration. Because the United States has a dominant position in the voting rights of the World Bank, Trump will exert influence on the successor of the World Bank.