Trump nominee David Malpass wins election as World Bank head

The World Bank says David Malpass was approved unanimously by the bank’s 25-member executive board on Friday.

David Malpass, the Treasury official nominated by President Donald Trump to head the 189-nation World Bank, has won election to the post.

The World Bank says Malpass was approved unanimously by the bank’s 25-member executive board on Friday. He will begin a five-year term next Tuesday succeeding Jim Yong Kim, who stepped down earlier this year, three years before his term was to end.

Malpass was serving in the Trump administration as Treasury’s under secretary of international affairs. He has been a longtime critics of the World Bank and its sister lending organization, the International Monetary Fund.

However in his Treasury post, Malpass helped win support last year for a $13 billion funding increase for the bank.