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Axios
Axios
Politics

Biden set to pounce on much-wanted surprise at World Bank

Joe Biden World Bank David Malpass Janet Yellen White House

President Biden plans to move quickly to replace David Malpass as president of the World Bank Group, seizing on his departure to transform the bank into an institution dedicated to fighting climate change, White House advisers say.

Why it matters: Malpass’ surprise decision to leave his term early gives the Biden's administration something it wanted even before the president was inaugurated: A chance for Biden to pick a new World Bank leader.

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