World Bank Head Sudden Resignation ,Clinton Global Initiative and China's One Belt One Road World Bank Head Resigns, Trump Administration Expected to Pick Replacement World Bank Group President Jim Yong Kim unexpectedly resigned Jan. 7, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources. Kim, nominated by former President Barack Obama for two five-year terms, had pushed financing for green energy projects and largely dropped support for coal power investments, but had avoided public clashes with the Trump administration, which has made reviving the U.S. coal sector a priority. President Donald Trump will wield strong influence in choosing Kim’s successor as the United States holds a controlling share of the World Bank’s voting rights. How the Clinton Global Initiative Changed the Way Wealth Is Put to Work - By Jim Yong Kim, President, World Bank Group The CGI community has helped lead the way in recognizing the power of innovative financial tools to bring about significant social impact. From a debate on microfinance, to the launch of the Global Impact Investing Network in 2009, to the creation of a social impact bond aimed at preserving coral reefs, the CGI community has remained at the forefront of the conversation, and members have utilized pragmatic and creative investment mechanisms to have significant social impact. Over the years, the World Bank Group has partnered with other CGI members on 47 Commitments to Action. That is an impressive amount of investment, sharing of information, and expertise that takes place in those projects. In 2013, we joined the Rockefeller Foundation, Swiss Re, Architecture for Humanity, and the American Institute for Architects to promote urban resilience to climate change through the 100 Resilient Cities Centennial Challenge. This partnership was formed in the wake of Hurricane Sandy, which devastated the coast of New Jersey and served as a wake-up call for many regarding the threat of climate change. The initiative is a good example of CGI’s work. Swiss Re is providing financial and technological contributions, the World Bank is providing access to financial services, and Architecture for Humanity and American Institute for Architects are contributing the expertise in their Regional Resilient Design Studios. The software firm Palantir Technologies is deploying their data fusion and analysis platform to create a resilience dashboard for each city. And Rockefeller Foundation is actively engaging other partners to advance resiliency efforts in four areas: policy, community and social resilience, infrastructure, and technology. The initiative started with 32 cities and received 330 applications from 94 countries for the second round. Demand is off the charts because this CGI-initiated partnership works. High-level plenary meeting of Belt & Road Forum starts in Beijing Chinese Vice Premier Zhang Gaoli is delivering a speech at the High-level Plenary Meeting of the Belt and Road Forum for International Cooperation in Beijing on Sunday morning. Chilean President Michelle Bachelet, World Bank President Jim Yong Kim and IMF Managing Director Christine Lagarde are among those who will address the high-level meeting, sharing their views about the Belt and Road Initiative. Chinese Vice Premier Zhang Gaoli: More efforts to be made for win-win cooperation Zhang highlighted efforts to be undertaken in the future under the Belt and Road Initiative.  He outlined that endeavors will be made to achieve win-win cooperation and benefit all, including building a network of infrastructure, enhancing trade for a dynamic market, improving financial connectivity for a diversified investment and funding system, and building a bridge connecting countries and peoples along the routes." ‍‘Friends Circle’ hails the Belt and Road Initiative‍