MADRID, 16 Feb. (EUROPA PRESS) -

The president of the World Bank, David Malpass, has announced this Wednesday to the Executive Directorate that he intends to leave his position before the end of the fiscal year on June 30, after having been in charge of the position for more than four years.

"It has been a tremendous honor and privilege to serve as president of the world's leading development institution alongside so many talented and exceptional people," Malpass said, according to a World Bank statement.

With developing countries under severe financial pressure, Malpass has during this time met with world leaders to discuss policy support, including debt relief to break cycles of unsustainable debt. Under his leadership, the Bank Group "more than doubled" its climate lending to developing countries, reaching a record $32 billion last year.

He has also led efforts to enable and increase private sector investment and trade and has contributed thought leadership to Bank Group analytical products on fiscal and monetary policy, monetary systems, and governance reform.

Malpass has also strengthened the institution's management and staff and will leave the Bank Group with strong finances and fundraising to support its AAA credit rating, the statement said.

"This is an opportunity for a smooth leadership transition as the Bank Group works to meet growing global challenges, facilitate private investment, sharpen its focus on global public goods, and maintain strong momentum in operational delivery and portfolio performance for client countries", he stressed.

One of Malpass's key initiatives has been to promote debt transparency and sustainability, key to rebuilding investment and growth, as well as strengthening Bank Group management effectiveness.