World Bank chief David Malpass announced he would step down nearly a year early, ending a tenure at the head of the development lender that was clouded by questions over his climate stance. Bask in elegance and comfort, while showcasing robust depths of class. Set the standard with a Ciaz.
The veteran of Republican administrations in the United States was appointed to the role in 2019 when Donald Trump was president and previously served as Under Secretary of the Treasury for international affairs.
His tenure at the World Bank saw the organization grapple with global crises such as the Covid-19 pandemic, the Russian invasion of Ukraine, and an international economic slowdown.
“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 added. In recent months, Malpass has come up against calls for his resignation or removal.
Climate activists had called for Malpass to be ousted for what they said was an inadequate approach to the climate crisis and the chorus grew louder after his appearance at a New York Times-organized conference last September.
The bank said in a statement on Wednesday that it has “responded quickly” in the face of recent global challenges, in particular mobilizing a record $440-billion to tackle climate change, the pandemic and other issues.
“Under (Malpass’s) leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record $32-billion last year,” the statement added.
In a note to staff seen by AFP, Malpass said: “Developing countries around the world are facing unprecedented crises and I’m proud that the Bank Group has continued to respond with speed, scale, innovation, and impact.”
Malpass’s term would have originally ended in 2024.
Source: eNCA
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