Ajay Banga, a citizen of the United States, has been named as the sole candidate for the role of the World Bank Group’s next president, according to the board of executive directors of the organization.
This was said in a statement released on Friday in Abuja by the World Bank.
“The World Bank Group’s Board of Executive Directors today confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday at 6:00 pm ET.
“The board received one nomination and would like to announce that Ajay Banga, a U.S. national, will be considered for the position.
“In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the presidential selection in due course,” the board said.
According to the News Agency of Nigeria, US President Joe Biden proposed Banga as the next head of the World Bank in February, adding that Banga is “well equipped” for the job at “this critical moment in history.”
No other country put out a rival applicant for the prestigious position.
Banga, 63, is a naturalized US citizen who was born in India.
The former CEO of Mastercard Inc. is now vice chairman of General Atlantic.
If approved, Banga would be the first Indian-American to lead either of the two major international financial organizations, the World Bank or the International Monetary Fund.
Banga is anticipated to succeed David Malpass, the current president of the World Bank, who will step down in June, almost a year before his tenure is set to expire.
Malpass came under heavy fire for both the bank’s support of climate action and for his own opinions on the issue.
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