US Senior Treasury Department Official, David Malpass has been nominated by US President Donald Trump to replace Jim Yong Kim as next president of the World Bank.
His nomination by President Donald Trump has raised some concerns considering Mr Malpass had been a critic of the Britton Woode Institution.
Mr Trump at a news conference in Washington commended Mr Malpass as a strong advocate for accountability at the World Bank.
President Trump who has been a staunch critic of the Britton Woode Institutions says he expects Mr Malpass to ensure that the bank’s dollars are spent judiciously and serve American interests and defend American values.”
Reports say it is not clear if other countries will propose their candidates options to challenge Mr Malpass for the presidency.
The Bank with a membership of 189 is accepting names until March 14. It will then create a shortlist of up to three candidates for interviews.
The Executive Board of the Britton Woode Institution is expected to vote on the candidates before the World Bank – IMF spring Meeting in April meeting.
Currently America controls 16% of the 25-member board’s voting power.