Ajay Banga, who on Wednesday became the next President of the World Bank, becoming the first Indian-American to head a global financial institution, said he looks forward to working with him when developing countries are facing tracking the most difficult development challenges.
“The Executive Directors of the World Bank today elected Ajay Banga as the President of the World Bank for a five-year term beginning June 2, 2023,” the bank said in a press statement.
In February, President Joe Biden announced that the United States would nominate 63-year-old Banga to lead the World Bank because he is “well-equipped” to lead global institutions “at this critical moment in history.”
The Board looks forward to working with Mr. Bang on the Evolution Process of the World Bank Group, as discussed at the Spring Meeting in April 2023 and adding a “Bank Statement” on all of the World Bank Group’s ambitions and efforts to address the most important development challenges facing developing countries.
Banga, who received the Padma Shri award in 2016, recently served as Vice Chairman of General Atlantic. Previously, he was president and CEO of MasterCard, a global company with approximately 24,000 employees.
