Manila, Feb. 21 -- The Philippine government has expressed its support for the nomination of United States Treasury Undersecretary David Malpass as the new president of the World Bank, citing his leadership as a good opportunity for the multilateral institution to work closely with the Asian Development Bank (ADB).
In a statement on Thursday, Finance Secretary Carlos Dominguez III said with Malpass leading reforms from the World Bank, a close collaboration of the bank with ADB would be the best answer to respond to the global financial reform agenda in the Asia-Pacific region. This will also allow both institutions to build on each other's strengths.
In a phone conversation, Dominguez informed Malpass of his proposal to the ADB to "reinve...