Washington (24.02.2023): US President Joe
Biden has nominated former Mastercard CEO Ajay Banga to lead the World Bank. Banga,
a business leader with extensive experience leading successful organizations in
developing countries and forging public-private partnerships to address
financial inclusion and climate change, is to be President of the World Bank. "Ajay is uniquely equipped to lead the
World Bank at this critical moment in history. He has spent more than three
decades building and managing successful, global companies that create jobs and
bring investment to developing economies, and guiding organizations through
periods of fundamental change. He has a proven track record managing people and
systems, and partnering with global leaders around the world to deliver
results," reads US President Joe Biden's statement. "He also has critical experience
mobilizing public-private resources to tackle the most urgent challenges of our
time, including climate change. Raised in India, Ajay has a unique perspective
on the opportunities and challenges facing developing countries and how the
World Bank can deliver on its ambitious agenda to reduce poverty and expand
prosperity," the statement further reads. The decision to nominate a new World Bank
president comes after World Bank's President David Malpass earlier said that he
would step down almost a year early from his position. Malpass' exit comes
months after calls grew for him to step down after he declined to acknowledge
the scientific consensus that fossil fuels were warming the planet.
Washington (24.02.2023): US President Joe
Biden has nominated former Mastercard CEO Ajay Banga to lead the World Bank. Banga,
a business leader with extensive experience leading successful organizations in
developing countries and forging public-private partnerships to address
financial inclusion and climate change, is to be President of the World Bank.
"Ajay is uniquely equipped to lead the
World Bank at this critical moment in history. He has spent more than three
decades building and managing successful, global companies that create jobs and
bring investment to developing economies, and guiding organizations through
periods of fundamental change. He has a proven track record managing people and
systems, and partnering with global leaders around the world to deliver
results," reads US President Joe Biden's statement.
"He also has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change. Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity," the statement further reads.
The decision to nominate a new World Bank
president comes after World Bank's President David Malpass earlier said that he
would step down almost a year early from his position. Malpass' exit comes
months after calls grew for him to step down after he declined to acknowledge
the scientific consensus that fossil fuels were warming the planet.