FX.co ★ World Bank's President resigns unexpectedly

Jim Yong Kim, who has served as president of the World Bank Group for more than six years, decided to resign. Starting February 1, Kristalina Georgieva, a Bulgarian economist and the CEO of the World Bank’s lending groups, will become the interim president. "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," Jim Yong Kim said. Since 1944, the World Bank has provided financing for more than 12,000 development projects giving loans, interest-free credits, and grants. After leaving the bank, Kim, a physician, intends to rejoin the board of the global health nonprofit company, Partners In Health, that he co-founded.