:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/75E6TPDY6ICXW2277WBYJHBU3Y.jpg "David Malpass has confirmed he will step down as World Bank President in June")
World Bank President David Malpass announced today that he will step down as head of the entity at the end of June. “After careful consideration, I have decided to seek new challenges,” he said in a bank statement after informing the World Bank’s board of directors of his decision.
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“Serving as President of the World Bank Group has been a great honor and privilege for me. I am deeply grateful for the support of the executive directors, leaders and staff of the five institutions of the World Bank Group,” Malpass said in a post on his social media, after briefing the entity’s board of directors. of his intention “to leave office at the end of the World Bank’s fiscal year.
“We have worked hard together to reduce poverty, increase economic growth, reduce public debt burdens and improve living standards across the full spectrum of human development, including education, health, social protection and employment, gender and access to drinking water. and electricity,” Malpass said.
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Regarding his future, he said, “I look forward to working on the many challenges facing the global economy, business, development and finance. As I have done throughout my career in the public sector, I will look for ways to improve people’s standard of living. This is an important and constructive opportunity for the World Bank Group to set its course. I will have more to say in the coming weeks.”
“As developing countries face unprecedented crises, I am proud that the Bank Group has responded with speed, scale, innovation and impact. The last four years have been among the most important of my career. Having made a lot of progress, and after careful consideration, I decided to take on new challenges. I would like to thank our staff and our Boards of Directors for the privilege of working with them every day to strengthen the effectiveness of our operations in the most difficult times,” concluded Malpass.
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Aged 66, Malpass began his 5-year term at the head of the World Bank on April 9, 2019, so he will leave this position a year earlier than expected. He came to the post after serving as head of international affairs at the US Treasury during the administration of Donald Trump.
Last fall he came under fire from the White House after refusing to say he supported the scientific consensus on global warming. He later apologized and reiterated his view that human activity contributes to climate change. More recently, Treasury Secretary Janet Yellen has given strong support for a reform of World Bank operations to ensure broader lending to tackle climate change and other global challenges.
During his tenure, Malpass had to deal with global crises such as the covid-19 pandemic and the Russian invasion of Ukraine. The bank said in a statement that the president of the institution “responded quickly” to these challenges, in particular by mobilizing the record amount of 440 billion dollars to respond to the pandemic.
“Under his leadership, the Bank Group more than doubled climate finance in developing countries, reaching a record $32 billion last year,” the statement added, referring to Malpass.
With information from Reuters and AFP
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