World Bank President Jim Yong Kim announces his departure
Jim Yong Kim, the president of the World Bank, announced he is resigning at the end of January.
Kim's unexpected departure three years before his term was set to expire is likely to set off a fierce battle between the Trump administration and other countries who have complained about the influence the United States exerts over the World Bank.
In a letter to bank staff, Kim said that he has long believed that the key to bridging the gap between the massive financing needs of developing countries and the amount of support available was to work with the private sector.
"I have therefore decided that it's time for me to take on new challenges and fully focus my efforts on leveraging private finance for the benefit of people around the work," Kim said in his note to staff.
Kim's dep...
