World Bank president resigns after four years in office

World Bank President David Malpass, 66, will step down at the end of June, about four years after taking office, according to a note released Wednesday.

The decision was communicated to the Board of Directors this Wednesday and, according to a World Bank statement posted on its website, David Malpass announced his intention to step down from his position “before the end of the financial year”, June 30 .

“After making great progress and after much deliberation, I have decided to look for new challenges,” explained the World Bank president, quoted in the statement.

Malpass was the 13th president of the Washington-headquartered World Bank, and during his term, according to the statement, he focused “on finding stronger policies” to boost economic growth, reduce poverty, improve living standards and reduce public debt. burden.

“It has been a great honor and privilege for me to serve as the president of the world’s leading development institution alongside so many talented and distinguished individuals,” Malpass added in a statement.

“I am proud that developing countries are facing an unprecedented crisis, and I am proud that the World Bank Group has responded quickly, on a large scale, innovatively and effectively,” he added, stressing that the past four years have been “one of the most significant” in his career.

Malpass thanked the staff and board of directors “for the privilege of working” with them on a daily basis “to improve the efficiency” of the bank’s operations “during the most difficult times.”

With developing countries under severe financial pressure, Malpass met with world leaders to discuss support policies, including debt relief.

“The World Bank Group is fundamentally strong, financially sound and well positioned to increase its development impact in the face of urgent global crises,” Malpass added.

In his opinion, “this is an opportunity for a smooth transition of leadership” as the Bank works to address growing global challenges.