David Malpass, the President of the World Bank, has announced that he will be stepping down from his position earlier than expected.

Malpass was appointed to the role in 2019, and his departure will be effective in July of this year. The announcement has come as a surprise to many, as Malpass had been expected to serve his full five-year term.

The World Bank has yet to comment on Malpass’s departure, but it is believed that his decision is linked to his stance on climate change. Malpass has been criticized for his views on the matter, which many have seen as being at odds with the World Bank’s commitments to environmental protection.

It is unclear who will succeed Malpass as President of the World Bank, but speculation is mounting that the organization may look to appoint a successor with a more progressive stance on climate change.

In the meantime, Malpass has said that he is looking forward to the next chapter in his life and is confident that the World Bank will continue to make a positive impact on the global economy.