Paschal Donohoe, Ireland’s Finance Minister, has announced his resignation from government to assume a prestigious position at the World Bank in Washington, D.C. According to reports from Irish broadcaster RTÉ, Donohoe will take on the roles of Managing Director and Chief Knowledge Officer at the World Bank, the globe’s foremost development institution. His departure from the Irish government is expected to occur later on Tuesday, followed by his resignation as a TD (member of parliament) for Dublin Central later this week. Donohoe, a seasoned politician with a distinguished career, previously served as Ireland’s Finance Minister from 2017 to 2022 and was reappointed to the role in January 2025. The 51-year-old will also relinquish his position as Chairman of the Eurogroup of finance ministers, triggering a by-election in his constituency. A graduate of Trinity College Dublin, Donohoe began his political journey on Dublin City Council before ascending to Seanad Éireann (the Irish Senate) and later Dáil Éireann (the lower house of parliament) in 2011. Over the years, he has held numerous ministerial portfolios, including Minister of State for European Affairs and Minister for Transport, Tourism, and Sport. His tenure as Finance Minister was marked by significant budgetary measures, including increased funding for social welfare and healthcare. Donohoe’s move to the World Bank underscores his expertise in economic and financial governance on the global stage.