Former Mastercard CEO Ajay Banga has been nominated by Joe Biden to lead the World Bank.
With a wealth of experience leading successful businesses in developing nations and fostering public-private partnerships to address financial inclusion and climate change, Banga is well-suited to serve as the President of the World Bank.
In a statement, President Biden expressed confidence in Banga’s abilities and qualifications, stating that he is uniquely qualified to lead the World Bank during this critical moment in history.
He noted that Banga has a proven track record of managing people and systems, partnering with global leaders to deliver results, and mobilizing public-private resources to tackle urgent challenges, including climate change.
President Biden also highlighted Banga’s unique perspective on the opportunities and challenges facing developing nations, given his upbringing in India.
He believes that Banga can help the World Bank achieve its ambitious agenda of reducing poverty and promoting prosperity.
This announcement comes in the wake of World Bank President David Malpass’s decision to step down almost a year earlier than expected.
- Malpass had faced criticism for refusing to acknowledge the scientific consensus on the impact of fossil fuels on climate change.
- With Banga’s extensive experience in addressing climate change and his commitment to financial inclusion, he may be well-positioned to lead the World Bank in addressing these and other pressing global issues.
