The chairman of the World Bank (BM), David Malpass, announced Wednesday that he will step down from his position as head of the entity at the end of June. “After much thought, I decided to look for new challengesMalpass, 66, said in a bank statement after notifying the WB’s board of directors of his decision.
“This is an opportunity for a smooth leadership transition while the Bank Group works to meet growing global challenges,” he added. His mandate, of duration of four yearssaw the institution face global crises such as the covid-19 pandemic and the Russian invasion of Ukraine.
The bank said in a statement that it has “responded swiftly” to these challenges, in particular by mobilizing the record amount of $440 billion to respond to the pandemic.
“Under his leadership, the Bank Group has more than doubled funding to tackle climate change in developing countries, reached a record $32,000 million last year,” the statement added, referring to Malpass.
In a note to staff seen by AFP, Malpass said: “Developing countries around the world are facing unprecedented crises and I am proud that the Bank Group has continued to respond with speed, scale, innovation and impact.” Before running the World Bank, Malpass was US Treasury Secretary.
Source: Eluniverso
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