World Bank President, Jim Yong Kim, Resigns: See why

By -
World Bank President Jim Yong Kim resigns. He announced that he would step down next month, more than three years before his current term was due to expire.

The decision ends Kim’s six-year tenure and may give US President Donald Trump decisive influence over the future leadership of the 189-member global development lender.

“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,” Kim, 59, said in a statement.

Kim, who became the bank’s president in 2012, is to join an unnamed firm focusing on investments in developing countries, the bank said in a statement, and will return to the board of Partners-in-Health, which he co-founded.

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim’s February 1 departure, the bank said in a statement.

Under Kim’s leadership, the bank set the goal of eliminating extreme poverty by 2030 and ramped up financing. Last year, it also won approval for a sharp $13 billion capital increase after acceding to requests from the Trump administration to curb loans to high-income countries like China.

Comments

Post a Comment

Kindly tell us what is in your mind here

Most Read Posts Stories

SERAP reports FG and ASUU to the United Nations over the continued closure of Nigerian Universities

By -
Image
Socio-Economic Rights and Accountability Project(SERAP) has sent an urgent appeal to two UN special rapporteurs urging them to “prevail upon the government of President Muhammadu Buhari and the leadership of Academic Staff Union of Universities (ASUU) to reach an agreement to end the ongoing strike action by ASUU. SERAP said the strike continues to have real and dire consequences on the right to higher education, specifically university education, as guaranteed by the International Covenant on Economic, Social and Cultural Rights, to which Nigeria is a state party.” In the urgent appeal dated 28 December 2018 and signed by SERAP senior legal adviser Bamisope Adeyanju, the organization said: “By failing to prevent and end the ongoing strike action by ASUU, the Nigerian government has defied and breached the explicit requirements of the right to equal access to higher education by Nigerian children and young people, under article 13(2)(c) of the International Covenant on Ec...
Read more »

Nigerian President Buhari, Lawmakers May Clash Again Over National Assembly 2018 Funds

By -
Image
SUNDAY ABORISADE and LEKE BAIYEWU President Muhammadu Buhari may be in for another showdown with members of the National Assembly on resumption of plenary in January if the executive fails to release funds appropriated to the federal parliament in the 2018 budget. Some of the federal lawmakers, who spoke with our correspondents on Friday, alleged that the executive arm of government had withheld their money as a form of punishment. The National Assembly increased its budget from N125bn allocated to it in 2017 to N139bn in 2018. They, however, said rather than implement the N139bn allocated to them in 2018, the executive was still paying them based on the N125bn appropriated for them in the 2017 national budget. The development worsened penultimate week, forcing the House of Representatives to summon the Minister of Finance, Aisha Mohammed, to explain the delay in the release of the funds, categorised as first-line charge. But the minister attributed the non-implementation of the 2018 ...
Read more »

Man Arrested For Robbery In Bayelsa 3 Weeks After Winning N4 Million Lottery

By -
Image
Two men have been arrested for robbery in Bayelsa State during the Christmas celebrations in Yenagoa the state capital. One of the suspects was said to have won a jackpot of N4m from a popular football lottery firm about three weeks earlier, before he was arrested over his involvement in armed robbery. According to sources, the suspect was also a popular member of a cult in the area, Punch metro reports. The sources, who said they were surprised by the development, noted that they were expecting the young man to use the money he had won to start a business or trade. They added that they were surprised that his N4m was already gone. The two robbers were arrested on Christmas Eve at Swali, a suburb of Yenagoa, near a popular new generation bank in the area. The two robbers waited for customers to withdraw money from the bank before attacking them. They were, however, unlucky as they were apprehended while they were committing the crime. Spokesperson for the Bayelsa State Police C...
Read more »

Barrack Obama reveals his 2018 favourite songs, movies and books

By -
Image
F ormer US President  Barack Obama  has revealed his yearly favourite songs, movies and books and his wife  Michelle Obama 's book ' Becoming ' was named number one on the list. Some notable artists whose songs landed on his favourite music for 2018  are H.E.R.,  The Carters, Jay Rock, J. Cole, Janelle Monae ,  Normani  with  Khalid. While on the list for movies, he listed,  Black Panther, Annihilation, Burning, Eighth Grade and  Leave No Trace  among others. Sharing his year-end lists, Obama wrote: 'As 2018 draws to a close, I’m continuing a favorite tradition of mine and sharing my year-end lists. It gives me a moment to pause and reflect on the year through the books, movies, and music that I found most thought-provoking, inspiring, or just plain loved. It also gives me a chance to highlight talented authors, artists, and storytellers – some who are household names and others who you may not have heard of before. Swip...
Read more »

'I can't accept N5 million to act nude, it's too small' - Nollywood actress, Anita Joseph

By -
Image
Nollywood talented actress, Anita Joseph who's also known for her humongous curves has said she would reject the offer of N5 million to act nude because it's too small. The curvaceous actress disclosed this in a new interview with The Entertainer When asked if she can act nude for the sum of N5 million, she replied furiously saying: 'Are you trying to insult me right now? Are you well at all? Don’t put that sh-t in my interview. At least call better money, I will reject that (N5 million),' she said. While speaking on the kind of man she would love to spend the rest of her life with, she said: 'My kind of man must be spirit-filled. He must be a man that fears Jehovah God. There’s nothing more attractive to me than a man that loves God. He must make me laugh. He must possess a good sense of humour. He must also be a power dresser and smell good.'
Read more »

Request For Sex Before Granting Female Journalist Interviews – Nana Aba Anamoah

By -
Image
Nana Aba Anamoah Television personality has in the wake of BBC’s documentary “Sex for Grades” revealed that, some big men also sometimes request to sleep with female journalists before granting interviews. According to Nana Aba Anamoah who was sharing her view on the sex for grade documentary released yesterday, it’s difficult for one to be a woman because whenever you need something from the opposite sex they would demand something from you in return. She made mention that people request sex for jobs, grades and other things including asking for sex before granting interviews to journalists. The issue of sex is everywhere, not only in institutions.
Read more »

Nigerian lady loses a job after being photoshopped on a naked body in a viral tweet

By -
Image
A Nigerian lady reportedly lost a job after being photoshopped on a naked body in a tweet which went viral.  The photos was attached to a tweet describing how Marlians will be turning up for Naira Marley's concert which was held last night.  Commenting on the aftermath of the viral photo, Media personality Kimani disclosed that the lady lost the gig because she was blacklisted by the company that wanted to hire her.  She tweeted;  This is rather unfair, knowing this was Photoshopped. Sent this lady's handle to a client yesterday morning only to receive an email just now saying she's been blacklisted. Just coming here now to see this must have been the reason she lost the gig. Kimani also served an update on the action she took. She revealed that she sent in the real photo as an evidence to overturn the blacklisting. 
Read more »

A Russian Warship 'aggressively Approached' US Destroyer In Arabian Sea

By -
Image
(CNN)A Russian warship "aggressively approached" a US Navy destroyer while it was operating in the North Arabian Sea Thursday, ignoring warnings from the US vessel and increasing the risk of a collision, the US Navy said Friday. The incident is the latest example of a close encounter between US and Russian military forces that US officials have described as unsafe and provocative and comes roughly seven months after another incident in the Pacific in June when US and Russian warships came so close the US ship had to perform an emergency maneuver to avoid a collision. "On Thursday, Jan. 9, while conducting routine operations in the North Arabian Sea, USS Farragut was aggressively approached by a Russian Navy ship," the US Navy's Fifth Fleet, which oversees naval operations in the Middle East, said in a statement. A US Navy official says that the Farragut is part of the USS Harry S. Truman aircraft carrier group and the Farragut is tasked with intercepting potent...
Read more »

More Stories

Show more