Established in 1945, this institution grants loans to different countries for capital projects. It’s headed by David Malpass.
Answers
David R. Malpass was selected as 13thPresident of the World Bank Group by its Board of Executive Directors on April 5, 2019. His five-year term began on April 9.
Mr. Malpass previously served as Under Secretary of the Treasury for International Affairs for the United States. Mr. Malpass represented the United States in international settings, including the G-7 and G-20 Deputy Finance Ministerial, World Bank–IMF Spring and Annual Meetings, and meetings of the Financial Stability Board, the Organization for Economic Cooperation and Development, and the Overseas Private Investment Corporation.
In 2018, Mr. Malpass advocated for the capital increase for the IBRD and IFC as part of a reform agenda featuring sustainable lending practices, more efficient use of capital, and a focus on raising living standards in poor countries. He was also instrumental in advancing the Debt Transparency Initiative, adopted by the Bank Group and the IMF, to increase public disclosure of debt and thereby reduce the frequency and severity of debt crises.
Before joining the U.S. Treasury, Mr. Malpass was an international economist and founder of a macroeconomics research firm based in New York City. He served as chief economist of Bear Stearns and conducted financial analyses of countries around the world
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