World Trump to nominate David Malpass to lead the World BankIn this file photo taken on November 05, 2018 World Bank President Jim Yong Kim delivers a speech during the "reinvented toilet expo" in Beijing. Like Trump, he has questioned the scope and mission of international institutions such as the World Bank, saying they have grown “more intrusive” and need to be refocused. Series of changesThe World Bank, controlled by the world’s most developed nations, lends money to developing nations for infrastructure and development projects. From his role at the Treasury Department, Malpass pressed the World Bank last year to commit to a series of changes even as it moved to increase its capital. Malpass, like Trump, has cited the World Bank’s continuing loans to China as an example of its outdated approach to financing developing countries.

Source: The North Africa Journal February 05, 2019 09:04 UTC