• David Malpass, a top U.S. Treasury official in Trump administration, was unanimously selected as the new President of the World Bank.
  • The World Bank’s 25-member executive board unanimously approved 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the development lender’s 13th
  • Since the bank’s creation following World War II, all of its Presidents have been American men.
  • The World Bank President is Chair of Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA).
  • The President is also ex officio Chair of Boards of Directors of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).
  • He was also instrumental in advancing the Debt Transparency Initiative, adopted by the World Bank and IMF, to increase public disclosure of debt and thereby reduce the frequency and severity of debt crises.