The Word Bank Group Opens Nominations For A New President

The Board of Executive Directors of the World Bank Group met this week under the Chairship of its Dean, Mr. Koen Davidse, to discuss the selection process for the next President of the World Bank Group, following the announcement by Mr. David Malpass on February 15, 2023 that he will be stepping down from his position by June 30, 2023.

The World Bank Group Leading body of executives confirmed its obligation to an open, merit-based and straightforward determination process for its next President. Candidates for the position should meet the following criteria:

  1. A proven track record of leadership and accomplishment, particularly in development;
  2. Experience of managing large organizations with international exposure, and a familiarity with the public sector;
  3. The ability to articulate a clear vision of the World Bank Group’s development mission;
  4. A firm commitment to and appreciation for multilateral cooperation; and,
    effective communication and diplomatic skills, impartiality and objectivity in the performance of the responsibilities of the position.

Candidate nominations should be submitted during a period starting on Thursday, February 23, 2023 at 9:00 a.m. Eastern Standard Time (EST) and ending on Wednesday, March 29, 2023 at 6:00 p.m. EST, and must be made by Executive Directors, or by Governors through their Executive Director.

Candidates must be nationals of the Bank’s member countries. Executive Directors would strongly encourage women candidates to be nominated.

Following the end of the nomination time frame, the Executive Directors will settle on a waitlist of up to three candidates and publish the names of the shortlisted up-and-comers with their assent. 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 Executive Directors expressed their appreciation for President Malpass’s leadership and effective management of the World Bank Group and its significant accomplishments during his tenure, including responding quickly to global crises.

World Bank President Malpass To Step Down. Set To Pursue New Challenges

Under Malpass’s presidency, the Bank Group implemented record surges in financing in response to the COVID-19 pandemic and other challenges and worked to strengthen the effectiveness of operations. He bolstered the Group’s finances through two record IDA replenishments, trust fund reforms and increasing medium- and long-term bond issuances.

Mr Malpass presided over the launch of the 2021-2025 Climate Change Action Plan to better integrate climate and biodiversity with development and growth, and under his leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record $32 billion in fiscal year 2022. He championed debt transparency and the need to break cycles of unsustainable debt.

The President of the World Bank is ex officio chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

The President is also ex officio chair of the Board of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).

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