World Bank President, David Malpass says that he would step down by the end of June from his position heading the development lender.
Malpass says after a good deal of thought decided to pursue new challenges adding that it is an opportunity for a smooth leadership transition as the Bank Group works to meet increasing global challenges.
His tenure at the World Bank, spanning four years, saw the group face global crises such as the COVID-19 pandemic and the Russian invasion of Ukraine, as well as an international economic slowdown.