Just In : World Bank Appoints New President.

The Executive Directors of the World Bank on Friday unanimously selected David Malpass as the new president of the World Bank Group.

Mr Malpass’ five-year term will begin on April 9.

A statement by the group said the Board expressed its deep gratitude to Interim President, Kristalina Georgieva, for her dedication and leadership in recent months.

The executive directors followed the selection process agreed in 2011.

The process included an open, transparent nomination where any national of the Bank’s membership could be proposed by any Executive Director or Governor through an Executive Director.