New president world bank

The World Bank has a new President, David Malpass, who took office on April 9, 2019. Here are some key facts about him:

Who is David Malpass?

David Malpass is an American economist and diplomat who has served as the 13th President of the World Bank Group since April 9, 2019. Prior to his appointment, he was the Under Secretary of the Treasury for International Affairs at the United States Department of the Treasury.

Background

Malpass was born in 1956 in Buffalo, New York. He earned a Bachelor's degree in economics from Colorado College and a Master's degree in international relations from Tufts University's Fletcher School of Law and Diplomacy.

Career

Before joining the World Bank, Malpass had a long career in government and finance. He served as:

  1. Under Secretary of the Treasury for International Affairs (2017-2019)
  2. Deputy Secretary of the Treasury (2012-2017)
  3. Assistant Secretary of the Treasury for International Affairs (2001-2004)
  4. Chief Economist of the United States Department of the Treasury (2001-2004)
  5. President of AIG Financial Products (2004-2008)

World Bank Presidency

As World Bank President, Malpass has emphasized the importance of:

  1. Promoting economic growth and development
  2. Addressing climate change and environmental sustainability
  3. Improving global economic governance
  4. Enhancing the World Bank's effectiveness and efficiency

Key initiatives

Under Malpass' leadership, the World Bank has launched several initiatives, including:

  1. The World Bank's first-ever Climate Change Action Plan
  2. The Global Infrastructure Facility (GIF) to support infrastructure development
  3. The World Bank's first-ever Human Capital Project to support education and health investments
  4. The World Bank's efforts to increase its lending to fragile and conflict-affected countries

Challenges

As World Bank President, Malpass faces several challenges, including:

  1. Addressing the global economic slowdown and its impact on developing countries
  2. Managing the World Bank's response to the COVID-19 pandemic
  3. Implementing the World Bank's new strategy and priorities
  4. Ensuring the World Bank's continued relevance and effectiveness in a rapidly changing global landscape

Overall, David Malpass brings a strong background in economics, finance, and international relations to his role as World Bank President, and is committed to promoting economic growth, development, and sustainability around the world.