On 3 May, the World Bank confirmed that Indian American-origin Ajay Banga would be the 14th president. U.S. Vice President Kamala Harris congratulated him.
Ajay Banga became the President of the World Bank for a 5-year term beginning on 2 June. He recently served as the Vice Chairman of General Atlantic before the President of the World Bank.
Ajay Banga was born in Pune, the former CEO of Mastercard has become the first person of Indian origin to become the president of World Bank. Previously, he graduated from Saint Stephen’s College in Delhi and then completed his MBA from IIM Ahmedabad.
World Bank works to tackle major problems such as Poverty reduction and Climate change. The current president of World Bank David Malpas announced to step back amid huge criticism for his actions toward climate change.
U.S. President Joe Biden appointed Ajay Banga as the President of the World Bank, he will start to run his 5 years term on June 2nd.
The post of President of the World Bank always falls for the U.S. candidates, but this comes out unexpected to appoint Indian origin as President.
Ajay Banga’s career spanned from Management Trainee at Nestlé to Vice Chairman of General Atlantic, he also worked in several private sectors.
The government Of India also awarded Ajay Banga the civilian honor of the Padma Shree in 2016.
It is now expected that Ajay Banga as the President of the World Bank would bring a first-hand understanding of the challenges that developing countries face in solving poverty and climate change.
No doubt, Ajay Banga’s responsibility will increase as the president of the World Bank.