Trump’s World Bank nominee, David Malpass, says his focus is median income growth for countries

President Trump’s World Bank president nominee, David Malpass, speaking exclusively with FOX Business’ Trish Regan, said he would focus on improving median income for countries, bringing peace and stability.

“If I am selected by the shareholders of the World Bank, then I would become president, and what we can do, I think, is focus the mission, have a core mission that really is to see countries doing better,” he said on Wednesday. “Countries growing, raising their median income, and that comes back to the U.S., that’s good for us.”

In his first interview since being nominated to head the international financial institution, Malpass said that engaging with other shareholders within the World Bank would create growth policies for countries to move forward.

“For 30 years, I’ve been working on ways to see countries grow faster, whether that’s the U.S., whether that’s foreign countries, I am happy to see us growing now,” he said on “Trish Regan Primetime.”

Malpass, 62, is now Under Secretary of the Treasury for International Affairs. He was sworn in on Aug. 4, 2017, and has overseen the government’s relationship with the World Bank.

“David brings 40 years of experience in economics, finance, government and foreign policy to his new assignment,” President Trump said during a press conference at the White House.

In his role, he has pushed for improvements in World Bank lending. Additionally, at Treasury, Malpass has been the point person in tense trade negotiations with China.

“David has worked closely with me at the Treasury Department and understands the president’s pro-growth economic agenda that has led to the strongest U.S. economy and job market in generations,” Treasury Secretary Steven Mnuchin said in a statement.

Malpass also weighed in on the current crisis in Venezuela, where pro- and anti-government demonstrators are clashing over the leadership and legitimacy of their disputed president, Nicolás Maduro. The World Bank president nominee said the majority of Venezuela’s finances would come from the future growth of the country if a new democratic government prevails.

“They have huge oil resources, and so one of the challenges for private-sector capital is to recognize that there’s a future opportunity,” he said. “Bring the money now and help the country actually begin to grow through the private sector.”


Malpass has served the presidencies of Ronald Reagan and George H.W. Bush.