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Trump to Nominate Treasury Official David Malpass to Lead World Bank

Malpass is a veteran of the Reagan and George H.W. Bush administrations.

Donald Trump is expected to nominate David Malpass—a Treasury Department official and veteran of the Reagan and George H.W. Bush administrations—to lead the World Bank, The Washington Post reports. Malpass, 62, is Treasury’s undersecretary for international affairs. He’s reported to have accepted Trump’s nomination to lead the world’s largest development lender, but will still need to be approved by the World Bank’s 12-member board before becoming president. Malpass has reportedly impressed Trump with his heavy involvement in U.S.-China trade in recent months. He’s a Trump loyalist who is reportedly skeptical of global institutions and has previously criticized the World Bank’s loans to China. It’s been an unwritten rule since the bank’s founding in 1944 that the board accepts Washington’s nominee, while European leaders get to choose the head of the International Monetary Fund. Previous reports had claimed Ivanka Trump, the president’s daughter and senior adviser, was under consideration for the job.