US President Joe Biden nominated former Mastercard CEO Ajay Banga for the presidency of the World Bank. This is reported on site White House. The current head of the World Bank, David Malpass, announced the decision to leave the post by June 30.
“Ajay has the unique ability to lead the World Bank at this crucial moment in history. For more than three decades, he has successfully managed global companies that create jobs and bring investment to developing countries, doing so at a time of fundamental change. He has a track record of partnering with global leaders around the world to deliver results,” Joe Biden said in a statement.
Ajay Banga, 63, is now vice president of General Atlantic. He led Mastercard from 2010 to 2021. Previously, he also chaired the US India Business Council (USIBC).
David Malpass has led the World Bank since 2019. His term of office is due to expire in 2024. In September 2022, he was criticized by environmental organizations for speaking out about climate change. Also, Mr. Malpass was accused of the fact that under his leadership the World Bank is not making the necessary efforts to counteract climate change.
