Washington: Ajay Banga is close to becoming the unopposed president of the World Bank, having been nominated by US President Joe Biden in late February.
According to foreign media reports, Indian-origin Ajay Banga may become the unopposed president of the World Bank, the former CEO of MasterCard was chosen by Biden to run the World Bank.
Ajay Banga’s selection as the head of the World Bank is almost certain, as no one else has put forward his claim for the post.
David Malpass, the current president of the 189-nation organization fighting poverty, announced last month that he would step down in June, nearly a year before his five-year term ends in April 2024. was nominated by
Ajay Banga is currently the Vice Chairman of the private equity firm General Atlantic, with over 30 years of business experience, having also served on the boards of MasterCard and the American Red Cross, Kraft Foods and Dow Inc.
Ajay Banga is the first Indian-born person to be nominated for the post of President of the World Bank. In nominating him on February 23, President Joe Biden said Banga has significant experience in mobilizing public-private resources to address the most pressing challenges of our time, including climate change.
It should be noted that the World Bank is under pressure to finance projects designed to combat climate change without plunging poor countries into heavy debt.
The heads of the World Bank and the IMF are traditionally chosen from Europe, but voices against this tradition have been raised, saying that the head of one of these two organizations should be from a developing country. .
