World Bank president to step down in June
By Felicia Nwosu
David Malpass, World Bank President said that he will be bowing out of his position to pursue new opportunities. This, he stated, will take effect by the end of June this year, when he will consequently cease to be the president of the global apex bank.
“After a good deal of thought, I’ve decided to pursue new challenges,” the 66-year-old was quoted as saying in a statement from the bank, having informed its board of his decision. This is an opportunity for a smooth leadership transition as the Bank Group works to meet increasing global challenges,” Malpass said.
Malpass has spent four years with a proven track record of being instrumental in driving the growth of the global bank for sustainable positioning. He demonstrated strong resiliency that saw the group face global crises such as the COVID-19 pandemic and the Russian invasion of Ukraine, as well as an international economic slowdown with strong immunity. Also, under his leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record $32bn last year.
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