First Indian origin President of World Bank |
Former Mastercard CEO Ajay Banga becomes first Indian-American to head the World Bank. Banga was on 3 May 2023 appointed as the President of the World Bank. Banga will have to tackle the toughest development challenges facing developing countries. The Executive Directors of the World Bank have selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. US President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is “well equipped” to lead the global institution at this critical moment. Banga has been admired in India and was awarded one of the highest civilian honours called the Padma Shri in 2016.
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