World Bank elects Ajay Banga as new president to replace David Malpass

by Andrea Shalal and David Lawder

WASHINGTON (Reuters) – The World Bank said on Wednesday that its 25-member board of directors has elected Ajay Banga as the institution’s new president for a five-year term, which begins on June 2, replacing the president. resigned David Malpass, a decision that was expected.

The 63-year-old India-born former Mastercard chief executive was the only candidate for the job after being chosen by US President Joe Biden in late February.

This vote came after a four-hour hearing of Ajay Banga conducted Monday by the board of directors, of which only one member did not vote for his nomination – Russia, which abstained, it was said. we learned from a source familiar with the proceedings.

(Report Andrea Shalal and David Lawder; French version Jean Terzian, edited by Nicolas Delame)