World Bank President David Malpass to step down as head of institution by June 30. He announced this to the Board of the Bank on Wednesday, reports Bloomberg..

Malpass, 66, is the 13th president of the World Bank and has been in office for four years.. His term expires in April 2024, but he decided to leave the post ahead of schedule.

Former senior Treasury Department official Malpass was nominated for office by then-President Donald Trump in 2019.. He faced criticism last year after he bluntly answered a question at a conference about the causes of climate change.. This led to calls for his resignation..

Last week, US Treasury Secretary Janet Yellen stepped up her call for change at the World Bank, urging it to expand its balance sheet more aggressively and work harder to mobilize private sector money to address global challenges like climate change and pandemics..

The World Bank Group "

[quote type\u003d" Operating in more than 100 developing countries, providing financial and advisory assistance to improve the quality of life and improve it among the poorest people. The Bank develops assistance strategies for each of its client countries in collaboration with government agencies, non-governmental organizations and the private sector. The World Bank consists of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). [/quote].