Trump pick for World Bank chief makes early exit after climate stance misstep
World Bank president David Malpass on Wednesday said he would leave his post by the end of June, months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.
Malpass, appointed by Donald Trump, will vacate the helm of the multilateral development bank, which provides billions of dollars a year in funding for developing economies, with less than a year remaining in a five-year term. He offered no specific reason for the move, saying in a statement, “after a good deal of thought, I’ve decided to pursue new challenges”.
Treasury secretary Janet Yellen thanked Malpass for his service in a statement, saying: “The world has benefited from his strong support for Ukraine in the face of Russia’s illegal and unprovoked invasion, his vital work to assist the Afghan people, and his commitment to helping low-income countries achieve debt sustainability through debt reduction.”
Yellen said the United States would soon nominate a replacement for Malpass and looked forward to the bank’s board undertaking a “transparent, merit-based and swift nomination process for the next World Bank president”.
By long-standing tradition, the US government selects the head of the World Bank, while European leaders choose the leader of its larger partner, the International Monetary Fund (IMF).
Pressure to shake up the leadership of the World Bank to pave the way for a new president who would reform the bank to more aggressively respond to climate change has been building for over two years from the United Nations, other world leaders and environmental groups.
In November 2021, special adviser to the UN secretary-general on climate change Selwin Hart called out the World Bank for “fiddling
Read more on theguardian.com
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