World Bank president to step down in June

World Bank president to step down in June

Daily Current Affairs   /   World Bank president to step down in June

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Category : Appointment/Resignation Published on: February 18 2023

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  • World Bank President David Malpass has announced to step down a year before his term ends.
  • Malpass will leave his position on June 30, the end of the World Bank’s fiscal year, after serving more than four years in the role.
  • The World Bank, a group of 187 nations, lends money to developing countries to help reduce poverty. 
  • Former US President Donald Trump appointed Malpass as World Bank chief in 2019 for a five-year period. As the largest shareholder, the United States traditionally appoints its president.
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