Advertisement
UK markets open in 5 hours 21 minutes
  • NIKKEI 225

    39,539.46
    -200.98 (-0.51%)
     
  • HANG SENG

    16,653.74
    -83.38 (-0.50%)
     
  • CRUDE OIL

    82.69
    -0.03 (-0.04%)
     
  • GOLD FUTURES

    2,164.80
    +0.50 (+0.02%)
     
  • DOW

    38,790.43
    +75.66 (+0.20%)
     
  • Bitcoin GBP

    52,174.75
    -802.75 (-1.52%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,103.45
    +130.27 (+0.82%)
     
  • UK FTSE All Share

    4,218.89
    -3.20 (-0.08%)
     

Jim Yong Kim resigns as president of the World Bank

Jim Yong Kim’
Jim Yong Kim’s decision to quit was described by sources close to the World Bank as a “personal decision”. Photograph: Chip Somodevilla/Getty Images

Jim Yong Kim is to step down as the head of the World Bank, sending shock waves through the international aid community.

He will stand down by 1 February – before the expiry of his term in 2022.

The Washington-based organisation is one of the largest donors to developing world countries and while many of its policies have proved controversial. It has been behind huge infrastructure projects across Asia, Africa and south America.

Kim’s decision to quit for the private sector was described by sources close to the bank as a “personal decision”.

More details to follow …