US President, Joe Biden announced on Thursday, that he is nominating the former CEO of ex-Mastercard Ajay Banga to be the next President of World Bank. He further mentioned that, he had a good experience in public-private resources to improve the urgent challenges such as climate change at the range of organisations.
Who is Ajay Banga?
Ajay Banga, a 63 years old former, born in Pune. He completed his graduation in Economics from Delhi’s St. Stephen College. He further completed his MBA from IIM(Indian Institute of Management), Ahemdabad. He further joined Nestle in India, and went on work with the Citigroup in India and Malaysia.
Ajay Banga’s Achievements –
Ajay Banga had achieved a lot of fame and worked hard to reach at this current position. He has more than 30 years of business experiences, served in different roles at Mastercard and the boards of The American Red Cross, Kraft Food and other firms as well. He worked so hard at Mastercard, where he set the target of bringing 1 billion people and 50 million micro- and small businesses into the digital economy by 2025. In 2016, he honored by the Padma Shri award by the President of India. Currently, Ajay Banga is a US citizen and works as a Vice Chairman at General Atlantic, A US private equity firm.
Ajay Banga is the first Indian-born nominee for the role of the World Bank President. His nomination is the first to be made in public, but banks will start accepting other nominations as well through March 29.
According to the reports, Germany is a strong shareholder and advised to make a women President this time as they mentioned that in about 77-years of history, no women became the President of World Bank.
Biden’s Statement –
“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 organisations through periods of fundamental change.
“He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results,” Biden said.