WASHINGTON — President Trump selected a fellow New Yorker, Treasury official David Malpass, to lead the World Bank, pointing out that he’s been a “strong advocate for accountability” at the institution.
“I am certain that there could be no better candidate to lead the World Bank than David and we want to just thank David, who has been with me for a long time and a supporter for a long time, a supporter in the financial sense even before I ran,” Trump told the small crowd gathered in the Roosevelt Room, who included Malpass’ wife, Adele, the former head of the Manhattan GOP.
“He liked the job I did. I like those people somehow,” Trump continued, also calling Malpass a “special person.”
Before serving as undersecretary of the Treasury for international affairs, Malpass was a senior economic adviser to the Trump campaign.
“David has been a strong advocate for accountability at the World Bank for a long time,” Trump said. “He has fought to ensure financing has been focused on the places and projects that truly need assistance, including people living in extreme poverty.”
“He will make it a priority to continue empowering women all across the globe,” Trump vowed.
When former World Bank chair Jim Yong Kim announced he was stepping down, Treasury Secretary Steven Mnuchin and Ivanka Trump led the search for a replacement.
Critics suggest that the selection of Malpass — who has been critical of globalism — will be the beginning of the end of American leadership at the World Bank, as developing nations will push for a leader from their part of the world.
“His disdain for the World Bank’s mission of fighting global poverty rivals John Bolton’s respect for the United Nations,” said Justin Sandefur, a senior fellow at the Center for Global Development.
But White House officials said Malpass’ discussions with the bank’s shareholders have so far been “very pleasant and very productive.”
“Governors and ministers have been receptive, if not already expressing support for a US nominee and for David,” a senior administration official said.
