U.S. wants World Bank to give more support to poorest nations

Business Apr 15, 2019

U.S. wants World Bank to give more support to poorest nations

The World Bank, a major source of development lending, needs to make more progress in shifting its loans away from fast-growing economies such as China and devoting more support to the world's poorest nations, Treasury Secretary Steven Mnuchin said Saturday. The Trump administration was encouraged ...

David Malpass confirmed as next president of World Bank

Business Apr 6, 2019

David Malpass confirmed as next president of World Bank

David Malpass, U.S. President Donald Trump's nominee to lead the World Bank, won unanimous approval from the institution's executive board on Friday, continuing the 73-year tradition of an American running the world's largest development lender. The bank said that Malpass, the U.S. Treasury's undersecretary for ...

Trump taps critic of global institutions to lead World Bank

Business Feb 7, 2019

Trump taps critic of global institutions to lead World Bank

U.S. President Donald Trump said on Wednesday that the World Bank Group should be led by U.S. Treasury official David Malpass, a Trump loyalist and critic of multilateral institutions who has vowed to pursue "pro-growth" reforms at the development lender. Trump's nomination of Malpass, the ...