US President Joe Biden informed that former MasterCard chief Ajay Banga an Indian-American has been nominated by Washington for the position of World Bank Head. This piece of information comes on Thursday after current chief David Malpass’s early exit plans were revealed.
The candidate nomination process has just begin and is schedule to run till March 29. Women candidate are being strongly encouraged to involve in the process the bank said in a statement.
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As per the trend, The Head of the World Bank is most probably an American, where as the head of the International Monetary Fund is customarily European.
Banga, was previously chief executive officer at MasterCard and is currently serving as vice chairman at equity firm General Atlantic. He is 63 and Biden has said that Banga has “critical experience mobilizing public & private resources to tackle the most urgent challenges of our time, including climate change,”
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