The executive board of the World Bank has unanimously chosen former US Treasury official, David Malpass to be the next President of the World Bank Group on a vote that took place on 5 April. He was appointed for a standard five-year term that will begin on 9 April 2019, replacing Interim President Kristalina Georgieva, who has been running the WBG since February 2019.
Malpass has become the 13th president of the World Bank Group, all of whom have been US citizens. The statement by the WBG says that he was nominated through "an open, transparent nomination where any national of the Bank's membership could be proposed". Malpass' candidacy was proposed by US President Donald Trump.
The previous WBG President, Jim Yong Kim, was appointed by US President Barack Obama in 2012 and served a full term and a half, until he announced his resignation on 7 January 2019. Former European Commissioner for the Budget and Human Resources Kristalina Georgieva had temporarily been filling his position since 1 February.
READ MORE: Ivanka Trump Not Under Consideration as Next World Bank President — White House
The World Bank Group governs the operation of several international financial organisations — the World Bank, the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).
