Banga was the sole candidate for the post and will officially take office on June 2.
Ajay Banga, the candidate nominated by the US, was today elected the new head of the World Bank by the organization’s board of directors.
Banga was the sole candidate for the post and will officially take office on June 2.
He succeeds economist David Malpas, a former top US Treasury official under President Donald Trump, who resigned before the end of his five-year term.
The 63-year-old Indian-American Ajay Banga was a senior executive at the General Atlantic equity investment fund and chairman of the board of the Agnelli family’s Exor holding company.
He was also the CEO of MasterCard. He has repeatedly stated that his priorities are on the one hand the financing of the fight to deal with climate change and other crises and on the other hand the reform of the World Bank.
It is customary for the head of the World Bank to be American and the head of the International Monetary Fund to be European.
Source: Skai
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