World Bank President David Malpass announced Wednesday his plan to step down in June, nearly a year before the end of his five-year term.
Wednesday his plan to step down in June, nearly a year before the end of his five-year term, following a recent controversy over climate change comments, and setting up President Biden to name a replacement.... [+]Malpass, who was appointed by former President Donald Trump, said he was leaving the international financial institution “to pursue new challenges.”
As head of the World Bank, Malpass oversaw a sprawling financial institution made up of 189 member countries and focused on international development.Before his time at the World Bank, Malpass served in Trump’s Treasury Department as the top official for international affairs.It will be up to the Biden Administration to select the next president of the World Bank.
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