The Banga’s nomination by the United States almost ensures that he will assume a position that will oversee billions of dollars in financing as the institution embarks on a major series of reforms for better respond to climate change and other challenges pressing challenges facing developing countries.
This is the first nomination to be made publicbut applications from other member countries will be accepted until March 29. Germanyanother major shareholder, said this week that the position should be for a womanas the bank has never been run by one in its 77-year history.
The Ajay Banga Experience
Raised in India but now US citizenBanga is currently serving as Vice President of General Atlantic, an American private equity firm. He retired in December 2021 after 12 years at the helm of Mastercard Incwhere he established the objective of incorporating 1,000 million people and 50 million micro and small companies into the digital economy by 2025.
Also works as co-chair of the Partnership for Central Americawhere trworked closely with Vice President Kamala Harris to mobilize public, private and non-profit resources for northern Central America.
The Treasury Secretary Janet Yellensaid the experience de Banga at Mastercard and his work to deploy private capital in climate solutions help you achieve the World Bank’s dual goals of eliminating extreme poverty and expanding shared prosperity.
“Ahay is uniquely equipped to lead the World Bank at this critical moment in history,” said Biden it’s a statement. “It’s been over three decades building and managing successful global companies that create jobs and attract investment to developing economies, guiding organizations through periods of fundamental change.
Biden also highlighted Banga’s experience in the mobilization of public and private resources to board urgent challenges such as climate change in a variety of organizations.
Source: Ambito
