World Bank President David Malpass on Wednesday said he would leave his post by the end of June, months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.
By long-standing tradition, the U.S. government selects the head of the World Bank, while European leaders choose the leader of its larger partner, the International Monetary Fund.
Still, World Bank sources said they were surprised by his decision to step down before the joint meetings of the World Bank and the International Monetary Fund in Morocco in October.Pressure to shake up the leadership of the World Bank to pave the way for a new president who would reform the Bank to more aggressively respond to climate change has been building for over two years from the United Nations, other world leaders and environmental groups.
Pressure on Malpass was reignited last September when the World Bank chief fumbled answering a question about whether he believed in the scientific consensus around climate change, whichIn November, Special Envoy on Climate Change John Kerry said he wants to work with Germany to come up with a strategy by the next World Bank Group meetings in April 2022 to "enlarge the capacity of the bank" to put more money into circulation and help countries deal with climate change.
More recently, Yellen has launched a major push to reform the way the World Bank operates to ensure broader lending to combat climate change and other global challenges.
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