US president congratulates Ajay Banga’s ‘resounding approval’ for World Bank top job

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By Asia Samachar | United States |

US president Joe Biden has congratulated Ajay Singh Banga on the ‘resounding approval’ he received from the World Bank board of governors as the the next president of the institution.

In a statement on May 3, the World Bank said its executive directors had selected Ajay, the Indian-born who is now a US citizen, as president for a five-year term beginning June 2, 2023.

Ajay was previously the president and CEO of Mastercard, a global organisation with nearly 24,000 employees.

Here is Biden’s full statement released on May 3:

“I want to congratulate Ajay Banga — my nominee for the next President of the World Bank — on his resounding approval by the Bank’s Board of Governors.

“Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President. And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction—including climate change. Ajay will also be integral in bringing together the public and private sectors, alongside philanthropies, to usher in the fundamental changes in development finance that this moment requires.

“I look forward to working with Ajay in his new role and to supporting his efforts to transform the World Bank, which remains one of humanity’s most critical institutions to reduce poverty and expand prosperity around the globe.”

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World Bank selects Ajay Singh Banga as 14th President (Asia Samachar, 4 May 2023)

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