The United States Has Nominated Ajay Banga To Govern The World Bank - Texas Today

US President Joe Biden has chosen Ajay Banga, an Indian-American businessman, to lead the World Bank.

The US is putting more pressure on the bank to do more to fight climate change.

Mr. Banga ran the credit card company Mastercard for more than a decade. He now works in private equity.

US officials said he had enough experience to work with the private sector to help the bank reach its goals.

The board will choose the bank’s next official head.

The bank said on Wednesday that it would interview up to three finalists and choose a new leader by the start of May. It said that women should run for office as much as possible.

It must be made clear if different ideas come from other countries.

Since the US has the most shares in the World Bank, it has always had the power to choose who runs the organization, which lends billions of dollars to countries annually.

When she was in the Treasury, Janet Yellen wanted the World Bank to be a “force multiplier for good” by making the right plans.

She said that Mr. Banga was “uniquely” qualified to do this job because he had a history of making partnerships between governments, businesses, and non-profits…Read more

Source — Texas Today