By: Brian Evans

On Wednesday, President Trump announced that he named David Malpass to run the World Bank. Interestingly, Malpass had served as an economic adviser during Trump’s 2016 campaign before joining the Trump administration in the Treasury Department in 2017. Also, he is an open advocate who has called for reform of the institution!

The President announced his appointment from the White House, and briefly highlighted his more than 40 years spent in various Administrations like the Reagan Administration, Bush Administration, and on President Trump’s campaign committee. President Trump said…

“America is the largest contributor of the World Bank, giving it over $1 billion every year. David has been a strong advocate for accountability at the World Bank for a long time. He has fought to ensure financing is focused on the places and projects that truly need assistance, including people living in extreme poverty He’s been with me for a long time. He’s a supporter for a long time!”

President Trump referred to Malpass as …

“highly respected” and “brilliant”

When Malpass took the mic, he discussed his work in the Treasury under the Trump Administration. He highlighted how he negotiated…

“major capital increase and reform package for the World Bank.”, He added that “with shareholders and dedicated staff, there’s a great opportunity now to implement these constructive reforms that will lead to faster growth and greater prosperity. A key goal will be to ensure that women achieve full participation in developing economies.”

After pointing out President Trump’s daughter Ivanka Trump, for her work on women’s economic empowermen, he said…

“I look forward to continuing our work together on her women’s global development prosperity initiative. Mr. President, I’m very optimistic that we can achieve breakthroughs to create growth abroad that will help us combat extreme poverty and increase economic opportunity in the developing world.”

Malpass said it was a “great honor,” as he thanked the President for his nomination.

 

 

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