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The directors of the World Bank unanimously chose David R. Malpbad as President of the World Bank Group for a five-year term starting Tuesday, April 9, 2019.
On April 5, 2019, the Board expressed its deep appreciation to Acting President Kristalina Georgieva for her dedication and leadership over the past few months.
Directors followed the selection process agreed in 2011.
The process included an open and transparent candidacy, in which any national of the Bank could be proposed by any executive director or governor through the intermediary of an executive director. This was followed by due diligence and a thorough interview with m Malpbad by the executive directors.
The Council looks forward to working with m Malpbad on the implementation of the To the front look and the capitalization agreement as defined in the Sustainable Financing for Sustainable Development document.
Mr. Malpbad previously served as Under Secretary of the Treasury for International Affairs in the United States.
As undersecretary, Mr. Malpbad has represented the United States on the international scene, including the G-7 and G-20 Finance Ministers meetings, the World Bank and IMF Spring and Annual Meetings as well as at meetings of the Financial Stability Board, Development, and the Private Investment Company Abroad.
As Undersecretary, Mr. Malpbad has been instrumental in a number of major World Bank Group reforms and initiatives, including the recent increase in IBRD and IFC capital. It also helped advance the Debt Transparency Initiative, adopted by the World Bank and the IMF, to increase public disclosure of debt and thereby reduce the frequency and severity of debt crises. .
Prior to becoming Under Secretary, Mr. Malpbad was an international economist and founder of a New York-based macroeconomics research firm.
Earlier in his career, Mr. Malpbad held the positions of Assistant Under-Secretary of the Treasury for Developing Countries and Assistant Secretary of State for Economic Affairs of Latin America.
In this capacity, he focused on a range of economic, fiscal and foreign policy issues, such as US participation in multilateral institutions, including the World Bank.
Mr. Malpbad has served on the boards of directors of the Council of the Americas, the Economic Club of New York and the National Committee on US-China Relations. Mr. Malpbad graduated from Colorado College and his MBA from the University of Denver. He undertook graduate studies in international economics at the School of Foreign Service at Georgetown University.
The President of the World Bank is Chairman of the Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
The President is also Chairman of the Board of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the Board of Directors of the Center. Investment Dispute Settlement (ICSID).
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