Ajay Banga, a citizen of the United States, has been named as the only candidate for the position of the World Bank Group’s next president, according to the board of executive directors of the organization.
The World Bank Group’s Board of Executive Directors announced that as of Wednesday, February 6, at 6:00 p.m. ET, the period for submitting nominations for the position of the organization’s next president had ended.
Ajay Banga, a citizen of the United States, has been nominated by one party and will be considered for the position, the board has announced.
The Board of Executive Directors announced that it would conduct a formal interview with the candidate in Washington, D.C. “By established procedures, the Board of Executive Directors will conduct the presidential election in due course,” it added.
According to the News Agency of Nigeria, US President Joe Biden proposed Banga as the next head of the World Bank in February, saying that Banga is “well equipped” to do so at “this critical moment in history.”
No other nation put forth a rival applicant for the prestigious position.
Banga, 63, a naturalized US citizen who was born in India.
The former CEO of Mastercard Inc. is now vice chairman of General Atlantic.
If confirmed, Banga would be the first Indian-American to lead either of the two major international financial organizations, the World Bank or the International Monetary Fund.
Banga is anticipated to succeed David Malpass, the current president of the World Bank, who will step down in June, almost a year before his term is set to expire.
Malpass came under heavy fire for both the bank’s support of climate action and for his own views on the issue. (NAN)
