US candidate clears big hurdle in effort to head World Bank

WASHINGTON (AP) — The Treasury official nominated by President Donald Trump to be the next president of the World Bank has cleared a major hurdle, with nominations for the position closing with no other candidates emerging.

The World Bank says David Malpass was the only candidate put forward by the bank's 189 member countries. Malpass is currently the undersecretary for international affairs at Treasury.

The presidency at the global lending institution came open in February when Jim Yong Kim, who had been nominated by the Obama administration, announced he was stepping down.

The World Bank said the bank's 25-member executive board will conduct a formal interview in the coming days with the expectation that it will make a decision before the bank's spring meetings, which start April 12.