Trump Nominates US Treasury’s David Malpass To Lead World Bank

US President Donald Trump said on Wednesday that the World Bank Group should be led by US Treasury official David Malpass, a Trump loyalist and critic of multilateral institutions who has vowed to pursue “pro-growth” reforms at the global lender.

 

Malpass, the undersecretary for international affairs at the Treasury Department and recently involved in the US-China trade negotiations, has been a sharp critic of the World Bank, especially over its lending to China.

 

He would succeed Jim Yong Kim, who announced in January he is stepping down three years before his term was set to expire amid differences with the Trump administration over climate change and development resources.

 

The departure of Kim, who was first nominated by former US President Barack Obama in 2012, is likely to become a contentious fight between the Trump administration and other countries who believe the United States exerts too much influence over the bank, which is based in Washington, DC.

 

The Washington Post reported on Tuesday that Malpass had accepted Trump’s offer to lead the bank.

 

A source close to Malpass said his priorities would be raising incomes in developing nations and defending US interests.

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