World Bank expects to select new President by early May

MOSCOW - The World Bank has said that its Board of Executive Directors, which has started receiving candidate applications for the position of the organisation's president, is expected to select a successor for the current chief, David Malpass, by early May, reported Sputnik.

"The World Bank Group Board of Executive Directors affirmed its commitment to an open, merit-based and transparent selection process for its next President... Formal interviews of all shortlisted candidates will be conducted by Executive Directors with the expectation of selecting the new President by early May 2023," the bank said in a statement.

Candidate nominations could be submitted until March 29, the organisation said, adding that it "strongly encourages" women candidates to be nominated.

Earlier in the month, Malpass told his staff in a letter that he planned to leave his job by the end of the bank's current fiscal year on June 30 and about a year before his term expires.

US Treasury Secretary Janet Yellen said that Washington expected a "transparent, merit-based and swift nomination process" of the new bank chief, also saying that the US would soon put forward a candidate.

The World Bank President has traditionally been a US citizen nominated by Washington - BERNAMA