World Bank chief announces intention to step down early

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This file photo taken on Oct. 13, 2022 shows World Bank Group President David Malpass attending a press conference in Washington, D.C., the United States. [Photo/Xinhua]

World Bank Group President David Malpass announced on Wednesday his intention to step down a year before the end of his term, said the organization.

The World Bank chief will leave his position by the end of the group's fiscal year on June 30 after serving more than four years, said the World Bank.

Malpass was nominated to the position during the administration under former U.S. President Donald Trump.

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