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BENGALURU, India — The Biden administration nominated Ajay Banga, the former longtime chief executive of Mastercard, to be the next president of the World Bank, a selection that is likely to drastically reshape the global development institution and broaden its ambitions to combat climate change.
The nomination will initiate a monthslong confirmation process before a final decision by the World Bank’s board. It is not clear if any other countries will nominate a candidate. The World Bank president is traditionally an American citizen chosen by the United States.
If confirmed, Mr. Banga will bring vast experience running large organizations and deep knowledge of the digital economy. Raised in India, he would bring a firsthand understanding of the challenges that developing countries face.
“Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” President Biden said in a statement. “He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change.”
https://www.nytimes.com/2023/02/23/business/world-bank-president-nomination.html
