By Michael Hernandez</p> <p>WASHINGTON (AA) – U.S. President Donald Trump on Wednesday nominated outspoken World Bank critic David Malpass to helm the international financial institution. </p> <p>Malpass, 62, is an established conservative and Trump loyalist with a long track-record of criticizing global development institutions, including the Bank and the International Monetary Fund. </p> <p>Critics suggested Malpass would work to undermine the World Bank if he does take the reins.</p> <p>He currently serves at the Treasury Department as the undersecretary of international affairs, and is a point person for ongoing trade negotiations with China. Malpass previously served on the board of Bear Stearns, a securities trading firm that was bought in 2008 amid the global recession. </p> <p>"He's been a supporter for a long time, a supporter in a financial sense. Even before I ran, he liked the job I did. I like those people somehow," Trump said at the White House. "He's going to do very well."</p> <p>Malpass will have to be confirmed by the World Bank's governing board. If he receives their sign-off he will replace outgoing Chairman Jim Yong Kim.</p> <p>The Washington-based World Bank lends money to developing nations to foster economic development. </p> <p>Malpass in the past has criticized the bank's loans to China, which stands as one of its largest loan recipients.
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