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The Executive Directors of the World Bank on Friday unanimously selected David Malpass as President of the World Bank Group for a five-year term, beginning on Tuesday, April 9.

 

In a statement world bank stated that “The Board looks forward to working with Malpass on the implementation of the Forward Look and the Capital Package Agreement as articulated in the Sustainable Financing for Sustainable Development Paper,”

 

The World Bank President is Chair of the Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The President is also ex-officio Chair of the Boards of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).

 

Malpass has served under US government in many capacities apart from being an international economist and founder of a macroeconomics research firm based in New York City prior to his appointment under US government.

 

He earned his bachelor’s degree from Colorado College and his MBA from the University of Denver. Similarly, he undertook advanced graduate work in international economics at the School of Foreign Service at Georgetown University.

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