World Bank President, David Malpass has announced that he would step down by the end of June from his position. This is about a year before his term would have ended.
Announcing his decision on Wednesday, Malpass stated thus:
“It has been an enormous honor and privilege to serve as President of the world’s premier development institution alongside so many talented and exceptional people.
“With developing countries facing unprecedented crises, I’m proud that the Bank Group has responded with speed, scale, innovation, and impact. The last four years have been some of the most meaningful of my career. Having made much progress, and after a good deal of thought, I’ve decided to pursue new challenges.
I want to thank our staff and Boards of Directors for the privilege of working with them every day to strengthen the effectiveness of our operations in the most challenging of times.”