World Bank President To Quit Before Tenure Ends
World Bank President David Malpass has said he would quit his role before his term ends.
Malpass declared this, months after faulting the White House for failing to say whether he accepted the scientific consensus on global warming.
According to Reuters, Malpass, who was appointed by former President of the United States, Donald Trump, will leave the multilateral development bank, which provides billions of dollars a year in funding for developing economies, by the end of June.
The World Bank chief’s five-year term was due to end in April 2024.
The former investment banker informed US Treasury Secretary Janet Yellen of his decision on Tuesday, a source familiar with the matter said.
Malpass, who survived multiple calls for his resignation last fall and was not expected to be provided with a second term, issued no specific reason for the move, saying in a statement, “after a good deal of thought, I’ve decided to pursue new challenges.”
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