Donald Trump has nominated U.S Treasury Diplomat, David Malpass as the new head of the World Bank.
Malpass has been identified as a loyalist of the POTUS and a campaigner against multilateral institutions.
Malpatt’s nomination by Trump is subject to the agreement of other nations that form the shareholding majority of the international lender.
The US has selected the head of the World Bank traditionally, with its 16% share being the highest. Former President, Jim Yong Kim faced contenders from Nigeria and Colombia in 2012 before leaving office three years before the expiration of his tenure.
Malpass beat other favourites to the top position and has been as an opportunity to have a firmer grip on the World Bank.
“He has fought to ensure financing is focused on the places and projects that truly need assistance, including people living in extreme poverty,” Trump said in announcing his choice at the White House with Malpass by his side.
The POTUS has blamed the World Bank in the past for granting aids to China, a country he considers too wealthy for such benevolence.
He has also been touted in some quarters as a man that will turn the World Bank around and give more aids to poorer countries, helping them to build stronger economies also.
Kim, a physician stepped down on Feb. 1 as the President of the World Bank.