The outgoing World Bank President, Dr. Jim Yong Kim will join an independent infrastructure investor, Global Infrastructure Partners (GIP), a press release from the company has said.
Kim who announced his resignation from the World Bank Monday, didn’t mention which company he was joining, but indicated that he was joining the private sector.
According to the release, Kim will start work with GIP on February 1, 2019 as a Partner and Vice Chairman, the date on which his resignation from the Bank takes effect.
Dr. Kim who was appointed the President of the Bank in July 2012 and re-appointed to another term lasting till 2021. The announcement of his surprise resignation comes three years ahead of his term expiration.
Commenting, Adebayo Ogunlesi, Chairman and Managing Partner of GIP said, “The leadership and vision that Dr. Kim brought to the World Bank as well as his prior roles as President of Dartmouth College and Director of the World Health Organization’s HIV/AIDS Department speak for themselves.”
“Dr. Kim’s broad knowledge base along with his first hand, comprehensive experience of working with governments and institutions around the world will provide very valuable insights. In addition, his previous involvement with infrastructure and the emerging markets and his expertise in environmental, social and corporate governance issues will further expand the capabilities of the broad and diverse GIP leadership team. We are indeed pleased to welcome Dr. Kim to GIP,” he added.
GIP is an independent infrastructure fund manager that invests in the equity and credit of infrastructure assets and businesses. The firm targets investments in OECD and select emerging market countries in single assets and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management.
By Emmanuel K. Dogbevi