The Irish Finance Minister, Paschal Donohoe, is to step down from government to take on a new banking role.
The Irish broadcaster RTÉ is reporting that the Fine Gael minister is set to become the managing director and chief knowledge officer of the World Bank – the largest development bank in the world.
Donohoe is expected to step down from his position later on Tuesday, and will stand down as TD (member of parliament) for Dublin Central later in the week.
He previously served as the Republic of Ireland’s finance minister between 2017 and 2022, before being re-appointed in January 2025.
The 51-year-old is also expected to stand down as the chairman of the Eurogroup of finance ministers.
His resignation will spark a by-election.