The President of the World Bank, David Malpass, announced on Wednesday February 15 that he would leave his post by June 30, a year in advance, in full reform of the institution, in a hurry to do more. on the climate issue.
The group “is fundamentally sound, financially viable and well positioned to increase its development impact in the face of urgent global crises”he said in a press release, seeing there “an opportunity for a smooth leadership transition”.
Thirteenth President of the World Bank, David Malpass, 66, was appointed for five years in April 2019, on the proposal of Donald Trump. The reasons for his resignation, expected by June 30, nearly a year before the end of his mandate, have not been specified. David Malpass, in a note sent to the teams of the World Bank, and quoted by AFP, mentioned “new challenges”.
Departure against a backdrop of institutional reform
He had recently come under fire from critics, accused by former US Vice President Al Gore, to be climate skeptical and to have failed to strengthen the financing of climate projects in developing countries. During a round table organized by the “New York Times” the next day, David Malpass refused three times to say whether he recognized the role of fossil fuels in global warming. “I am not a scientist”he had finally declared, pressed by the public.
However, many member countries of the World Bank are pushing for the institution to have a leading role in matters, in particular, of climate change. Environmental organizations hailed his departure.
“Under David Malpass, the World Bank has lost precious time in the fight against climate change. Not only has he failed to stop the actions that fuel climate chaos and injustice, Malpass has pushed for pro-Wall Street policies that run counter to the public interest.”tweeted the NGO Friends of the Earth (Friends of the Earth).
A reform of the institution, so that it better meets the financing needs of developing countries, was launched in October at the instigation of certain member countries, in particular the United States. The first phase of implementation is expected to begin in April.
“I thank David Malpass for his service as President of the World Bank and for his commitment to ensuring a smooth transition”, US Treasury Secretary Janet Yellen said in a statement. For his successor, however, the Minister called for a “transparent, merit-based and timely appointment process”.
A loyal supporter of Donald Trump
In 2019, indeed, the candidacy of David Malpass was proposed by President Donald Trump, when he served as an undersecretary of the Treasury in the administration. He had, however, two years earlier, publicly described international institutions as wasteful, “not very effective” And “often corrupt in their lending practices”. The only candidate to succeed South Korean Jim Yong Kim, who had also resigned, David Malpass had unsurprisingly been appointed.
“The last four years have been among the most significant of my career”he underlined in the letter sent to his collaborators. “During (his) tenure, he focused on finding stronger policies to increase economic growth, reduce poverty, improve living standards and reduce the burden of public debt”welcomed the World Bank in its press release.
The search for a successor will now be launched, and the United States will propose a candidate, she added. An unspoken rule grants the management of the World Bank to an American, and that of the International Monetary Fund (IMF) to a European.
Founded in 1944, the World Bank, which supports development projects, now has 189 member states and more than 10,000 employees worldwide.
