Trump picks World Bank skeptic Malpass to lead institution

President Donald Trump is expected to tap Treasury Department official David Malpass as the U.S. pick to lead the World Bank, according to senior administration officials, a clear sign the administration wants to rein in the international financial institution.

Malpass, Treasury’s undersecretary for international affairs, has said global organizations like the World Bank “have grown larger and more intrusive” and “the challenge of refocusing them has become urgent and more difficult

The institution aims to reduce global poverty by making loans, with a sizable portion flowing to China and India. Former World Bank President Jim Yong Kim stepped down abruptly early this year, effective Feb. 1, three years before the end of his term. Nominations for his replacement open Thursday and close March 14.

The administration plans to announce its selection on Wednesday, officials said.

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