David Malpass will leave the post of World Bank President on June 30, was appointed by Donald Trump in 2019
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Washington: World Bank Chairman David Malpass has announced that he will resign from his post before the end of his term. Malpass said in a statement that it has been a great honor and privilege to serve as president of the world’s premier development institution. With developing countries facing unprecedented crises, I am proud that the Bank Group has responded with speed, scale, innovation and impact, he said.
David Malpas will leave his post on June 30
In a statement issued by the World Bank, it has been said that David Malpass will leave his post on June 30, 2023. It has been said in the statement that after playing his role in the World Bank for four years, he will leave his post at the end of the financial year. Explain that the World Bank is a group of 187 countries in the world, which lends money to developing countries to help reduce poverty.
Donald Trump appointed in 2019
Significantly, former US President Donald Trump appointed David Malpass as the head of the World Bank in the year 2019 for a period of five years. The US, being the largest shareholder, traditionally appoints the President of the World Bank. Under David Malpass, the organization responded to a number of crises, including the global pandemic and Russia’s war in Ukraine.
World Bank remembers the tenure of Malpas
The World Bank said that David Malpass also focused on policies to increase economic growth, reduce the burden of government debt, and help reduce poverty. However, the news channel CNN said that David Malpass’s tenure as the President of the World Bank has also been quite controversial. Malpass refuses to accept the scientific consensus that fossil fuels are warming the planet and helping to increase air pollution.
Criticism received on the use of fossil fuels
World Bank President David Malpass faced criticism from climate activists in September 2022 after he refused to confirm during a climate panel whether he accepted the scientific consensus, a CNN report said. That the earth is getting dangerously warm due to the use of fossil fuels. Meanwhile, Treasury Secretary Janet Yellen thanked David Malpass for his services at the World Bank, saying that while we all must continue to raise our collective ambitions in the fight against climate change. He said that during the tenure of World Bank President David Malpass, this global organization has made significant progress in this field.
America will soon appoint World Bank chief
Treasury Secretary Janet Yellen said that the world appreciates Ukraine because of Russia’s unprovoked attacks on Ukraine, her important work to aid the Afghan people, and her commitment to helping low-income countries achieve debt stability through debt reduction. have benefited from their strong support for Now that David Malpass is stepping down from the post of head of the World Bank, the US will soon start the process of appointing a new president. The US traditionally appoints the President of the World Bank, while the European Union selects the head of the International Monetary Fund (IMF).
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