The head of World Bank Group has announced he will resign effective February 1.
The move, reported Monday, will see Jim Yong Kim step down three years ahead of schedule for “personal reasons.”
The Guardian reports the resignation is “sending shock waves through the international aid community.”
The Washington-based organisation is one of the largest donors to developing world countries and while many of its policies have proved controversial. It has been behind huge infrastructure projects across Asia, Africa and South America.
The Associated Press reports President Trump will nominate the next World Bank head.
The official announcement of his departure provided no reason for his sudden departure. It will give President Donald Trump the opportunity to nominate his choice to fill the World Bank post.