The World Bank Group`s govt board on Thursday stated that it’s going to keep in mind handiest one nominee, US-sponsored former Mastercard CEO Ajay Banga, to be the subsequent president of the institution, as no different applicants had been nominated. The length for filing nominations for the location of the subsequent President of the World Bank Group closed on Wednesday, March 29. Ajay Banga, an Indian-beginning govt, turned into nominated with the aid of using US President Joe Biden on February 23.
“The Board acquired one nomination and would love to announce that Mr. Ajay Banga, a U.S. national, could be taken into consideration for the location,” the worldwide lender stated. “In accordance with set up procedures, the Board of Executive Directors will behavior a proper interview with the candidate in Washington D.C., and count on to finish the Presidential choice in due course.” On February 23, US President Biden introduced that the United States turned into nominating Ajay Banga, a enterprise chief with substantial enjoy main a success corporations in growing countries, to be President of the World Bank.
“Ajay is uniquely ready to guide the World Bank at this essential second in history,” Biden stated. “He has spent extra than 3 many years constructing and coping with a success, international agencies that create jobs and convey funding to growing economies, and guiding corporations via intervals of essential change.” Biden stated Banga has a validated tune report coping with human beings and systems, and partnering with international leaders round the arena to supply results.
Ajay Banga presently serves as Vice Chairman at General Atlantic. Previously, he turned into President and CEO of Mastercard, main the agency via a strategic, technological and cultural transformation. He has labored carefully with Vice President Harris because the Co-Chair of the Partnership for Central America. Banga, who’s now set to end up the primary Indian-American to move the World Bank, turned into lately scheduled to fulfill Prime Minister Narendra Modi and EAM S Jaishankar however he examined advantageous for Covid.
Born withinside the Pune town of Maharashtra, Banga holds a bachelor’s diploma in Economics from St. Stephen’s College, Delhi University, and a PGP in Management from the Indian Institute of Management-Ahmedabad (IIM-A). In 2016, he turned into presented Padma Shri – the fourth-maximum civilian award in India.
