Paschal Donohoe is to step down as Minister for Finance and take up a position at the World Bank, Cabinet ministers have been told.
It is understood that Mr Donohoe has been offered the role of managing director – effectively the number two position at the bank – and he has informed the Taoiseach and Tánaiste that he will accept it.
He will step down from his position as Minister for Finance on Tuesday and resign as a TD later this week.
The board of the bank, the largest development bank in the world, approved the appointment on Monday night.
More to follow
