President of World Bank | Indian-origin Ajay Banga appointed President of World Bank

Photo: @ANI/Twitter Washington: Indian-American entrepreneur Ajay Banga will be the new head of the World Bank. He was appointed unopposed as the next President of the World Bank on Wednesday. He is the first person of Indian origin to reach this position. Giving information about Banga’s appointment, the World Bank said in a press release, “The Executive Directors of the World Bank today elected Ajay Banga as President for five years. His five-year term will begin on June 2, 2023. Banga, the former head of Mastercard Inc., currently serves as the vice chairman of General Atlantic. The World Bank said the Board of Directors looks forward to working with Banga on the World Bank Group development process. This development process was agreed upon in the meeting held in April. Apart from this, there is also a need to work together on efforts to deal with the difficult development challenges facing the developing countries. India-born Ajay Banga appointed as President of World Bank Read @ANI Story | https://t.co/VXyLt69nix#WorldBank #WorldBankPresident #AjayBanga #DavidMalpass pic.twitter.com/127RwPjSMA — ANI Digital (@ani_digital) May 3, 2023Banga World’s top financial institutions- World Bank and International Monetary Fund (IMF) He is the first person of Indian origin and the first Sikh-American to command any of the following. Banga was born and brought up in India. The Government of India has honored Banga with the Padma Shri award in the year 2016. Last February, US President Joe Biden announced the nomination of 63-year-old Banga to head the World Bank. Biden said that Banga is well qualified to lead the global organization at this critical moment in history. Banga has also worked with US Vice President Kamala Harris. He was co-head of the ‘Partnership for Central America’. He has been the Honorary Chairman of the International Chamber of Commerce during the year 2020-22. Apart from this, he is also the chairman of Axar and an independent director of Temasek. Prior to this, he has also been a part of the board of directors of the American Red Cross, Kraft Foods and Dow Inc. He was also a founding trustee of the US-India Strategic Partnership Forum and a member of the Barack Obama-era Cyber-Security Commission. (agency)