Ajay Banga, a citizen of the United States, has been named as the lone candidate for the role of the World Bank Group’s next president, according to the board of executive directors.
This was said in a statement released on Friday by the World Bank in Abuja.
“The World Bank Group’s Board of Executive Directors today confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday at 6:00 pm ET.
According to the board, “The board received one nomination and would like to announce that Ajay Banga, a U.S. national, will be considered for the position.
“In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the presidential selection in due course.”
The News Agency of Nigeria reports that in February, US President Joe Biden nominated Banga to lead the World Bank saying that he is “well equipped” to lead the global institution at “this critical moment in history.”
No other nation put out a rival applicant for the esteemed position.
Banga, 63, who was born in India, has become a citizen of the United States.
The former CEO of Mastercard Inc. is currently vice chairman of General Atlantic.
If confirmed, Banga would be the first Indian-American to ever serve as the head of either of the two most important international financial organisations, the World Bank or the International Monetary Fund, according to NAN.
David Malpass, the current World Bank president, is anticipated to stand down in June, almost a year before his tenure is set to expire. Banga is slated to succeed Malpass.
Malpass came under fire for both his personal views on climate change and the bank’s commitment to environmental action. (NAN)
