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Wednesday, March 22, 2023

Ajay Banga: Lindner: US proposal for World Bank leadership “very significant”

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Traditionally, the United States is the head of the World Bank. They have nominated former Mastercard CEO Ajay Banga as their new candidate. There is encouragement from Germany.

Finance Minister Christian Lindner has indicated Germany’s support for the US proposal for the World Bank chief post. The personnel proposal is “very significant and worth considering,” said the FDP politician on the sidelines of a meeting of G20 finance ministers in Bengaluru, India. US President Joe Biden has nominated former Mastercard CEO Ajay Banga as a candidate.

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A person from the private sector gave hope that more private investments would be mobilized in the future, said Lindner. In addition, Banga basically stands for a solidarity between developed industrial nations, emerging countries and developing countries. The 63-year-old manager with an Indian-American background is currently vice chairman at financial investor General Atlantic.

Last week, former World Bank boss David Malpass surprisingly announced his resignation. He wants to resign from office at the end of the fiscal year at the end of June – about a year before the regular end of his term. Malpass was heavily criticized for statements about climate change. Traditionally, the United States is the head of the World Bank, which lends money to poor countries on favorable terms in order to strengthen their economies and reduce poverty. The organization is supported by 189 countries worldwide.

Source: Stern

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