Ajay Banga, an Indian-American business mogul, is set to become the next President of the World Bank, announced on Thursday that he is the sole nominee for the position, as there were no other candidates for the position.
Before he is formally appointed, Banga will be interviewed by the World Bank’s Board of Executive Directors.
President Joseph Biden stated in February that the United States would nominate Banga to run the World Bank because he is “well equipped” to lead the global institution at “this critical moment in history.”
The World Bank closed a month-long window for candidates for its future president on Wednesday, with no alternatives to 63-year-old Banga named.
Banga, the former CEO of Mastercard Inc., is now Vice Chairman of General Atlantic.
“The World Bank will go through a significant shift in the next months. We anticipate that Ajay Banga, President Biden’s choice, will be elected President of the World Bank,” US Treasury Secretary Janet Yellen told legislators on Wednesday during a Congressional hearing.
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