Indian-American citizen Ajay Banga has been elected as the next President of the World Bank. The World Bank on Wednesday confirmed that Anjay Banga would be the next president of the institution.
The World Bank said that the executive directors of the institution today elected Ajay Banga as the 14th president of the bank. He will take over this charge from June 2, 2023 and will continue in this post for the next five years. He will replace the current President of the World Bank, David Malpass.
Please tell that David had resigned from his post before the scheduled time, after which the search for a new president was on.
President Joe Biden nominated
Ajay Banga’s name was nominated by US President Joe Biden for the post of next President of the World Bank. On February 23 this year, Biden nominated Banga. Ajay Banga, who has been the CEO of the famous credit company Mastercard, is an Indo-American. Banga, 63, is currently working as the vice-chairman of equity firm General Atlantic.
Banga got the support of these countries
Ajay Banga has got the support of Germany, Japan, France, Italy, Bangladesh, Cote d’Ivoire, Colombia, Egypt, Ghana, Kenya, Saudi Arabia, Republic of Korea and the United Nations for the post of next President of the World Bank.
Who is Ajay Banga?
Ajay Banga, 63, is an Indian-American who currently serves as the Vice Chairman of the equity firm General Atlantic. He was born in Pune, Maharashtra. Ajay Banga did his schooling from Hyderabad Public School. Then his father Harbhajan Singh Banga was an officer in the army and was posted in Hyderabad in 1970. After completing his schooling, he took admission in Delhi University.
Received a bachelor’s degree in economics from DU’s St. Stephen’s College, followed by management studies from the Indian Institute of Ahmedabad (IIM). Ajay Banga has more than 30 years of business experience. Ajay Banga was the President and Chief Executive Officer of Mastercard as well as a member of the Board of Directors. He joined MasterCard in August 2009 and became the President and CEO in April 2010. Prior to this, he was the CEO of Citigroup Asia-Pacific region.
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