World Bank President Jim Yong Kim on Monday said he was “disappointed” by the number of graduates who have left the bank.
Kim told reporters that the bank will not offer the jobs it is providing to graduates who graduate in 2017, and he wants the bank to take more steps to help them secure a job.
“We’ve heard the concerns that they’ve expressed and they’re very much disappointed,” Kim said.
The World Bank will have to pay “significant salaries” for those who leave the bank in 2017.
That means, for example, that those who graduate this year could end up paying $8.7 million to the bank, according to a recent report from the Institute for Global Finance.
Those who leave in 2017 could also be subject to “financial hardship” penalties, which could result in losing their jobs, the institute said.
Kim did not elaborate on what would happen to graduates, but the institute cited examples of former employees who have been fired or had their contracts terminated due to poor performance, including former President Rodrigo Duterte and former Vice President Jejomar Binay.
It also cited former President Ilham Aliyev’s failure to implement the 2020 financial inclusion goals, and the ongoing economic crisis.
As a result, the bank has offered to give a new graduate an extra year of experience, Kim said, though he said that he was not sure if the offer would be enough.
There is a $200,000 bonus for graduates who take on jobs that are at least two years in duration.
This is a key part of the new initiative.
It’s a key piece of the overall program that’s designed to bring more people to the World Bank.
But, I want to be very clear about that.
The World Bank is going to give you a little bit of flexibility in that regard.
We’ll continue to try to give them a lot of flexibility to get jobs.
He said that the board of directors would soon be deciding what to do about the program.
In the meantime, he said the bank is looking at a range of options to help its graduates.
I have to say, the number one concern that I’ve had is, we are very, very focused on the job market.
That is, to try and find new jobs and find a way to make sure that we don’t create a bubble, that we keep the system stable, and that we make sure there’s an equitable distribution of wealth around the world, Kim told reporters.
A large percentage of graduates will be paid between $1 million and $2 million a year, and those jobs will be provided through a loan program that the World Board of Governors and the World Economic Forum have been negotiating.
A new $2.5 billion loan program has been proposed for graduate students.
The bank will also be reviewing the feasibility of introducing an online job placement program.
The bank will have a new recruitment tool in the works that will allow graduates to apply for jobs.
The tool is expected to be launched by the end of the year.
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