(Ecofin Agency) - On January 7, 2019, Jim Yong Kim who has been the president of the World Bank since the past six years announced his resignation that should take effect on February 1, 2019.

This announcement was a surprise since the Korean-American physician still had three more years before the end of his tenure as the president.

"It 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", he said in a statement.

Kristalina Georgieva, CEO of the World Bank, will become the interim president on February 1, 2018.  

Jim Yong Kim announced that he would join a private firm specialized in infrastructure investments in developing economies.