Trump nominates US Treasury’s David Malpass as next World Bank President

US President Donald Trump Wednesday nominated David Malpass, who has been a critic of the World Bank, to lead the institution focused on global poverty. Praising Malpass, Trump said he "has been a strong advocate for accountability at the World Bank for a long time." Now the undersecretary for international affairs at the Treasury Department, Malpass has been an outspoken skeptic of the 189-nation World Bank, a leading source of funding for economic development. The World Bank provides low-cost loans for projects around the world. Among its key missions is helping combat poverty in developing countries. Malpass has called for curbing the World Bank's financial reach and has criticized its lending to China, one of the bank's leading recipients of aid.