World Bank President Announces Plan to Step Down

by Mindy Cohn

 

After a recent controversy over climate change comments, World Bank President David Malpass announced on Wednesday that he will be leaving his position in June. 

The World Bank oversees financial institutions in 189 member countries with a focus on international development.

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The announcement comes ten months before the end of his five-year term. Malpass says he is leaving the World Bank "to pursue new challenges." Malpass's last day will be June 30.

Malpass's replacement will be selected by the Biden Administration.

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