The World Bank has elected David Malpass as its new president almost three months after his predecessor riesigned unexpectedly.
The 63-year old Malpass was Donald Trump’s pick for the World Bank presidency, after his predecessor Jim Young Kim resigned in January.
The Bank officially on Friday approved the choice of Malpass, who is widely seen as an ally of US president Donald Trump.
He was Trump’s main economic adviser in the run-up to the 2016 US election.
Malpass has since reacted to his election, saying he was honoured to be handed the new role as head of the World Bank, an institution he had been critical of in the past.
He said the Bank’s drive to help tackle extreme poverty will be accelerated under his watch.
The Trump administration says Malpass’s ascendancy to the top position at the Bank will facilitate what it called much needed reforms.
WN/as/APA