World Bank hopes to select new chief by May – Capital Business

WASHINGTON, United States, Feb 23 – The World Bank said Wednesday it hopes to find a successor by early May to chief David Malpass, who has announced he will step down nearly a year early.

The Washington-based development lender will begin accepting candidate nominations on Thursday, a process that will run until March 29. The bank says women candidates would be “strongly” encouraged.

A shortlist of three candidates will then be issued, followed by “formal interviews… with the expectation of selecting the new president by early May 2023.”

By informal agreement, not cited in the statement, the president of the World Bank is typically an American, while the head of the International Monetary Fund is customarily a European.

The 66-year-old Malpass, was appointed in 2019 when Donald Trump was president after previously serving as Under Secretary of the Treasury for international affairs.

A week ago, he made a surprise announcement that he would leave his post nearly a year before his term was due to expire in 2024.

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.

In recent months, Malpass has faced calls for his resignation or removal, with environmental activists accusing him of climate change denialism.

Last September at a forum, Malpass declined to say if he believed fossil fuels were driving climate change, drawing sharp condemnation from the White House.

Malpass later told CNN that he was not a climate change denier and that  human-generated emissions were “clearly” contributing to warming.

Jay Ndungu

Jay is a computer scientist and journalist with a passion for the intersection of technology and society. He has a background in computer science, developing a deep understanding of the technical aspects of the industry, including programming languages and software development methodologies. Currently, He writes for Nairobi Times, covering a wide range of topics including technology, politics, sports, and entertainment. With his unique combination of technical knowledge and journalistic experience, Jay brings a unique perspective to the stories he covers, able to explain complex technical concepts in an easy-to-understand manner. His work is dedicated to bridge the gap between technology and society, and to make people more aware of the potential of technology to make the world a better place.

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