{"id":72990,"date":"2019-01-09T03:14:59","date_gmt":"2019-01-09T01:14:59","guid":{"rendered":"http:\/\/www.times.mw\/?p=72990"},"modified":"2019-01-09T03:14:59","modified_gmt":"2019-01-09T01:14:59","slug":"world-bank-chief-quits","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2019\/01\/09\/world-bank-chief-quits\/","title":{"rendered":"World Bank chief quits"},"content":{"rendered":"<figure id=\"attachment_72994\" aria-describedby=\"caption-attachment-72994\" style=\"width: 300px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/www.times.mw\/wp-content\/uploads\/2019\/01\/kim.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-72994\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2019\/01\/kim-300x182.jpg\" alt=\"\" width=\"300\" height=\"182\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/01\/kim-300x182.jpg 300w, https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/01\/kim.jpg 603w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-72994\" class=\"wp-caption-text\">GAVE NO REASONS\u2014Kim<\/figcaption><\/figure>\n<p>World Bank President, Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post.<\/p>\n<p>His resignation will take effect from 1 February.<\/p>\n<p>Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017.<\/p>\n<blockquote><p>He will <em>\u201cjoin a firm and focus on increasing infrastructure investments in developing countries\u201d,<\/em> the World Bank said.<\/p>\n<p>In a statement, Kim said: <em>\u201cIt has been a great honour to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime\u201d.<\/em><\/p><\/blockquote>\n<p>No reason was given for his unexpected resignation.<\/p>\n<p>Kristalina Georgieva, the World Bank\u2019s chief executive officer, will assume the role of interim president.<\/p>\n<p>Kim has avoided public clashes with President Trump, but his policy approach was sometimes at odds with the president\u2019s approach to climate change.<\/p>\n<p>Under Kim, the World Bank has ended its support of coal power projects &#8211; in contrast to Trump\u2019s promise to revive the US coal industry.<\/p>\n<p>In April, Kim bowed to pressure from the Trump administration over loan payments to China. The World Bank agreed to change its lending structure in order to secure a $13bn capital increase.<\/p>\n<p>The World Bank has a remit to finance international development projects. Formed in 1947 to help rebuild European countries devastated by World War II, it supports infrastructure projects with traditional loans, interest-free credits, and grants.<\/p>\n<p>Kim, who was born in Seoul, South Korea, trained as a medical doctor.<\/p>\n<p>He was nominated by former president Barack Obama for both his first and second term at the head of the World Bank.<strong>\u2014 BBC<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Bank President, Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post. His resignation will take effect from 1 February. Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017. He will \u201cjoin a firm [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-72990","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/72990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=72990"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/72990\/revisions"}],"predecessor-version":[{"id":72995,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/72990\/revisions\/72995"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=72990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=72990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=72990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}