David Malpass, the President of the World Bank, has announced that he is stepping down from his role, marking the end of his four-year term. Malpass, who was appointed by former US President Donald Trump, will depart the bank on March 31, 2023. The decision has come as a surprise to many, as Malpass had previously indicated that he was willing to serve a second term.
Malpass’s tenure at the World Bank has been marked by controversy, with many accusing him of being a climate change denier. In 2017, before he was appointed to his current position, Malpass stated that climate change is not proven and that the scientific community is not in agreement on the issue. He also criticized the Paris Agreement on climate change, which he claimed would be harmful to the US economy.
Malpass has faced criticism for his leadership of the World Bank, with some accusing him of prioritizing economic growth over environmental concerns. In September 2022, a group of climate activists sent a letter to Malpass, urging him to use the bank’s resources to support the transition to renewable energy.
Despite the criticism, Malpass has defended his record at the World Bank, stating that he is proud of the work that the organization has accomplished during his tenure. He has highlighted the bank’s efforts to provide financial support to developing countries, including those affected by the COVID-19 pandemic.
Following Malpass’s announcement, the World Bank’s board of directors will begin the process of selecting a new president. The selection process is expected to take several months.
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