World Bank President Jim Yong Kim announced he will step down on February 1, 2019. (Photo: AFP)

Washington (People’s Daily) - World Bank Group President Jim Yong Kim announced he will step down from his post on February 1  and join a fund-focused Infrastructure Investment.

In an official statement from World Bank, Kim said,  “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.”

“The work of the World Bank Group is more important now than ever as the aspirations of the poor rise all over the world, and problems like climate change, pandemics, famine, and refugees continue to grow in both their scale and complexity.  Serving as President and helping position the institution squarely in the middle of all these challenges has been a great privilege,” the statement also said.

Kim served as World Bank president for over six years.

In addition to working on infrastructure investments, Kim plans to return to the board of Partners in Health (PIH), an organization he co-founded more than 30 years ago. 

Kristalina Georgieva, World Bank CEO, will assume the role of interim World Bank president effective February 1.