US President Donald Trump plans to nominate Malpass, a critic of the World Bank, to be the institution’s next leader (AP file picture)The World Bank may be poised for a shake-up with President Donald Trump planning to nominate David Malpass, a Trump administration critic, to lead the institution focused on global poverty. The World Bank provides low-cost loans for projects around the world. Malpass has called for curbing the World Bank's financial reach and has criticised its lending to China, one of the bank's leading recipients of aid. The World Bank was founded in 1944 with the task of shoring up the economies of nations devastated by World War II. The first recipient of a World Bank loan was France.

Source: The Telegraph February 05, 2019 19:41 UTC