The Trump administration notified World Bank shareholders on Monday that it plans to tap senior US Treasury Department official David Malpass as the nominee to lead the development lender as its new president, according to reports.
Who is David Malpass?
Mr Malpass, the Treasury’s undersecretary for international affairs, is a vocal sceptic of global organisations such as the World Bank, saying they “have grown larger and more intrusive” and “the challenge of refocusing them has become urgent and more difficult”, according to Politico, as US political media company, which first reported President Donald Trump's pick.
Last year, Mr Malpass helped create a new package of World Bank lending reforms that seek to transition middle-income countries to private sector lending and limit the bank's lending, emphasising sending resources to poorer countries instead and limiting World Bank staff salary increases.
Mr Malpass served as an economic adviser to Mr Trump during his 2016 presidential campaign. He was chief economist at investment bank Bear Stearns prior to its 2008 collapse and served at the Treasury and State Departments under Presidents Ronald Reagan and George H W Bush.
What is the World Bank?
The institution's mission is to reduce global poverty by making loans. It committed nearly $64 billion to developing countries in the year ended June 30, with a sizeable portion flowing to China and India and loans made at record levels for human development and climate finance.
Why does the World Bank need a new president?
Former World Bank President Jim Yong Kim stepped down abruptly, effective February 1, three years before the end of his term. Mr Kim, first nominated by former US president Barack Obama in 2012, has diverging views with the Trump administration over climate change and development resources.
The Trump administration plans to announce its selection on Wednesday, officials told Politico, with nominations for Mr Kim's replacement to open Thursday and close March 14.
What are the next steps and why does this nomination matter?
The nomination of Mr Malpass would put a Trump loyalist and a sceptic of multilateral institutions in line to lead the World Bank.
Mr Malpass, or any other nominee, must gain approval from the World Bank’s 12-member executive board. The United States holds a controlling 16 per cent share of board voting power and has traditionally chosen the World Bank’s leader, but challengers - though unlikely - could emerge.
Mr Trump's nominee signals his administration is seeking greater control over the institution.
In the past two years, Mr Malpass has demanded the World Bank stop lending to China, which he says is too wealthy for such aid, illustrated by Beijing's “Belt and Road” infrastructure development programme, which has subjected some developing countries to insurmountable debt loads.
$1,000 award for 1,000 days on madrasa portal
Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
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Send “thenational” to the following numbers or call the hotline on: 0502955999
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The Baghdad Clock
Shahad Al Rawi, Oneworld
'Peninsula'
Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra
Director: Yeon Sang-ho
Rating: 2/5
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Volunteers offer workers a lifeline
Community volunteers have swung into action delivering food packages and toiletries to the men.
When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.
Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.
Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.
“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.
Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.
“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.
