Trump reportedly will nominate Treasury official David Malpass to lead World Bank

President Trump has chosen David Malpass, a Treasury Department official, as his pick to become president of the World Bank, senior administration officials told Politico on Monday.

The announcement will be made Wednesday, one person said. Malpass is the undersecretary for international affairs, and has been critical of organizations like the World Bank, which tries to fight poverty by making low-interest loans and giving out grants, saying they have "grown larger and more intrusive" and "the challenge of refocusing them has become urgent and more difficult," Politico reports.

Last month, Jim Yong Kim made the surprise announcement that effective Feb. 1, he was stepping down as president of the World Bank. Historically, the United States has chosen the bank's leader, but in recent years other countries have pushed back against this, Politico reports. The World Bank's executive board will make the final decision, with nominations open Feb. 7 through March 14.

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