World Bank to hire new president by May

The World Bank said on Wednesday that it will hire a new president by May, since the current president David Malpass is leaving his position by the 30th of June, according to its statement.

The applications for the position should be submitted from the 23rd of February to the 29th of March, the statement mentioned.

The statement also added once the applicants have sent their applications, a list of three shortlisted applicants will be published before the official meetings to announce a new president.

The bank stressed on the fact that it encourages women to apply for the position, as the applicants should have skills such as proven leadership experience, can lead huge organisations, and utmost commitment to various cooperation.

The World Bank is run under the supervision of an American, while the International Monetary Fund (IMF) is governed by a European.

The World Bank was established in 1944 and it funds developmental programs, it currently includes 189 member countries and has more than ten thousand employee across the world.