World Bank head to quit in blow to aid or­gan­i­sa­tions

The Guardian Weekly - - Gobal Report -

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

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