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Statement by Finance Minister Taro Aso on the Selection of the World Bank President

March 15, 2019

Statement by Mr. Taro Aso, Minister of Finance, Japan

 Mr. David T Malpass, Under Secretary for International Affairs of the Department of the Treasury, has been nominated by the United States as the next President of the World Bank.

 Mr. Malpass has a long, outstanding career in development assistance, currently as Under Secretary and previously as Deputy Assistant Secretary of the U.S. Treasury. In such capacities, he is well versed in policies and operations of the World Bank.

 Mr. Malpass played a key role in the IBRD’s capital increase agreement last year, where he led the discussion on the reform measures of the World Bank, including but not limited reducing the share of assistance to upper middle income countries above the graduation discussion income and strengthening support for low income countries. I am confident that he is strongly committed to implementing the reform measures pursuant to the agreement.

 Japan appreciates Mr. Malpass as a highly qualified candidate, based on these considerations, and thus supports his nomination for the next President of the World Bank. I’ll be pleased to continue cooperating with the World Bank and contribute to assisting developing countries in need of help.