Policy

World Bank chief steps down months after Dems demanded resignation

by Stephen Neukam - 02/15/23 4:20 PM ET

World Bank President David Malpass speaks during a news conference at the World Bank/IMF Annual Meetings in Washington, Thursday, Oct. 17, 2019. (AP Photo/Jose Luis Magana)

Trump-appointed World Bank Chief David Malpass is stepping down from the organization by the end of June, months after House Democrats called on him to resign following comments that implied climate change denial.

“This afternoon, I shared with the World Bank Group’s Board of Directors my intention to step down by the end of the World Bank’s fiscal year,” Malpass said in a statement announcing the decision.

Malpass came under fire after his response during a United Nations (U.N.) event in New York last year, when he was asked if the “manmade burning of fossil fuels is rapidly and dangerously warming the planet.”

“I don’t even know. I’m not a scientist,” Malpass said.

Environmentalists pounced on Malpass’s statement, arguing he was a climate change denier. A group of 27 House Democrats pushed President Biden to urge for the resignation or removal of Malpass as the head of the World Bank, which lends billions of dollars to developing nations, calling the comments “troubling” and “unacceptable.”

“We urge you to advocate for the removal or forced resignation of David Malpass as World Bank Group President. The facts are clear that we are in a climate crisis and there’s no alternative but to take bold action,” the lawmakers, led by Reps. Jared Huffman (D-Calif.) and Sean Casten (D-Ill.) wrote to Biden.

Malpass was appointed by former President Trump to lead the group in 2019 and is stepping down roughly a year before his planned five-year term was set to end.

Treasury Secretary Janet Yellen praised Malpass after his announcement on Wednesday.

“Under President Malpass’ leadership, the World Bank has advanced shared priorities that have measurably improved the lives of people around the globe,” Yellen said. “The world has benefitted from his strong support for Ukraine in the face of Russia’s illegal and unprovoked invasion, his vital work to assist the Afghan people, and his commitment to helping low-income countries achieve debt sustainability through debt reduction.”