Foreign media such as CBS in the US and BBC in the UK reported on the 3rd (local time) that former MasterCard CEO Ajay Banga was elected as the next president of the World Bank (WB).
Banga, an Indian-American, is set to begin a five-year term as the 14th president of the World Bank on the 2nd of next month.
US President Joe Biden recommended Banga as the next governor after current governor David Malpass announced his intention to resign in February. Malpass has announced that he will step down in June.
Malpass was forced to resign by the Biden administration for denying that fossil fuels add to global warming.
President Biden expressed his position that he welcomed the election of President of the World Bank, saying that Banga was a “transformative leader.”
President Biden said, “The WB is evolving and expanding to respond to the global challenges that affect its core mission of eradicating poverty, including climate change.” It will help,” he said.
U.S. Treasury Secretary Janet Yellen also said Banga would play a “critical role” in the World Bank’s efforts to address global challenges such as climate change.
“Ajay understands that the challenges we face are intertwined, from climate change and pandemics to extreme poverty and shared prosperity,” Yellen said in a statement. built,” he emphasized.
The World Bank was established right after World War II, and the United States, which has the largest share, appoints its president.
Raised in India, Banga served as vice chairman at private equity firm General Atlantic. He also worked for Mastercard for over 10 years as President and CEO. He built his career at Citigroup and Nestlé. Banga immigrated to the United States in 2000 and acquired American citizenship in 2007.
He told the BBC in March that he wants the World Bank to be a “catalyst” and “thought leader” for action. “We need to engage the private sector to help us reach these ambitious goals.”
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.