President Donald Trump has selected a senior Treasury official David Malpass for the next president of the World Bank. If nominated by the Managers of the World Bank Group, Malpass would switch Jim Yong Kim as the president of the World Bank. This is the position which has traditionally been detained by Americans.

As per the vote contribution of a number of countries inside the World Bank, the approval of David Malpass as its next president is currently a mere formality.

Declaring his nomination on Wednesday, President Donald Trump announced David Malpass as a “special man”, and as someone who was extremely qualified for this position.

In his current capability as the Secretary of the Treasury for International Affairs, David Malpass, 62, supervises the working of the International Monetary Fund and the World Bank.

An internationally famous economist, David Malpass have 40 years of total experience in finance, economics, foreign policy, and government to his new job, Donald Trump reported.

After obtaining a degree in international economics from the University of Georgetown, Malpass held as a treasury’s deputy assistant secretary under President Ronald Reagan and States Deputy Assistant Secretary under President George H W Bush.

According to the report,” David Malpass is an outstanding choice, which is United State is one of the largest contributors to the World Bank, contributing around US$ 1 billion per year,” Donald Trump stated.

“My management has made it the highest precedence to ensure that United State taxpayer’s dollars are expended effectively and cleverly, serve American interests and protect the American values,” Trump added.

“David Malpass is an excellent advocate for financial responsibility at the World Bank for a long period of time.” Said President Donald Trump.

Treasury Secretary Steven Mnuchin stated President Trump had made an outstanding choice by nominating David Malpass to hold as President of the World Bank.