His tenure at the World Bank saw the organisation grapple with global crises such as the Covid-19 pandemic, the Russian invasion of Ukraine and an international economic slowdown. theSun theSundaily WorldBank pandemic Russia UkraineWar business
: World Bank chief David Malpass announced on Wednesday he would step down nearly a year early, ending a tenure at the head of the development lender that was clouded by questions over his climate stance.
“After a good deal of thought, I’ve decided to pursue new challenges,” the 66-year-old was quoted as saying in a statement from the bank, having informed its board of his decision. He later said he had no plans to stand down and moved to clarify his position, acknowledging that climate-warming emissions were coming from man-made sources, including fossil fuels.
“Under leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record US$32 billion last year,” the statement added.
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