Finance Minister Paschal Donohoe is set to resign from Cabinet.

He told colleagues on Tuesday morning he has been offered a position at the World Bank in Washington DC which he intends to accept.

The Fine Gael TD will resign as Minister for Finance on Tuesday and leave his role as a TD later this week.

The Dublin Central TD was first elected to the Dáil in the 2011 General Election. He retained his seat in the 2016, 2020 and 2024 general elections.

During his time in Cabinet he served as the Minister for Transport and twice as the Minister for Finance as well as the Minister for Public Expenditure.

Minister for Finance Jack Chambers Minister for Public Expenditure, and Paschal Donohoe pose for photographs outside Government Buildings, Dublin, ahead of the announcement of Budget 2026. Picture date: Tuesday October 7, 2025. Image: Niall Carson

Paschal Donohoe served as a Senator between 2007 and 2011. He was a Dublin City Councillor between 2004 and 2007.

Labour Party TD Marie Sherlock, who was first elected to the Dáil in the 2024 general election, says Paschal Donohoe played a key role in her decision to enter political life.

" Long before I ever became a Dublin City Councillor, Paschal reached out and encouraged me to try politics.

"Those sorts of conversations aren't forgotten, and I do want to wish him well in his new role.

"Of course, we're now going to have a by-election in Dublin Central and the Labour Party will be contesting it. Bring on the by-election."

Paschal Donohoe is the longest continuously serving cabinet minister in this Government, and has been linked to financial positions on the world stage for a number of years.

Mr Donohoe is also due to step down as President of the Eurogroup. He was first elected to the position in 2020, and was re-elected to lead the group of eurozone finance ministers again in 2022 and 2025.

Reporting by Today FM Political Correspondent Seán Defoe and Stephanie Rohan