US Nominates Ajay Banga for World Bank president

US Nominates Ajay Banga for World Bank president

Daily Current Affairs / US Nominates Ajay Banga for World Bank president

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Category : Appointment/Resignation Published on: February 25 2023

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US President Joe Biden has nominated former Mastercard CEO Ajay Banga for the position of World Bank president.
Donald Trump appointee David Malpass will step down from his role this June before completing his tenure in April 2024.
Banga, who was born in Pune cantonment (Khadki) and whose father Harbhajan Singh Banga is a retired lieutenant-general who served in the Indian Army, will succeed David Malpass.
He began his professional career in Nestle, moved to Pepsico and later Citi, before topping a corporate career when he became CEO of Mastercard in 2010, holding the position till 2020.
He is currently vice-chairman at General Atlantic.
He is also a member of the Trilateral Commission, a founding trustee of the U.S.-India Strategic Partnership Forum, a former member of the National Committee on United States-China Relations, and Chairman Emeritus of the American India Foundation.
The World Bank's chief economist is also a Sikh -- former Georgetown University and University of Chicago professor Indermit Gill.

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