The World Financial institution Group’s government board on Thursday stated that it’ll think about just one nominee, US-backed former Mastercard CEO Ajay Banga, to be the following president of the establishment, as no different candidates had been nominated. The interval for submitting nominations for the place of the following President of the World Financial institution Group closed on Wednesday, March 29. Ajay Banga, an Indian-origin government, was nominated by US President Joe Biden on February 23.

“The Board acquired one nomination and wish to announce that Mr. Ajay Banga, a U.S. nationwide, will likely be thought of for the place,” the worldwide lender stated. “In accordance with established procedures, the Board of Government Administrators will conduct a proper interview with the candidate in Washington D.C., and anticipate to conclude the Presidential choice in the end.”

On February 23, US President Biden introduced that the US was nominating Ajay Banga, a enterprise chief with intensive expertise main profitable organisations in creating international locations, to be President of the World Financial institution.

“Ajay is uniquely geared up to steer the World Financial institution at this important second in historical past,” Biden stated. “He has spent greater than three a long time constructing and managing profitable, international corporations that create jobs and convey funding to creating economies, and guiding organizations via intervals of basic change.” 

Biden stated Banga has a confirmed observe report managing individuals and methods, and partnering with international leaders world wide to ship outcomes.

Ajay Banga at the moment serves as Vice Chairman at Common Atlantic. Beforehand, he was President and CEO of Mastercard, main the corporate via a strategic, technological and cultural transformation. He has labored carefully with Vice President Harris because the Co-Chair of the Partnership for Central America.

Banga, who’s now set to turn into the primary Indian-American to move the World Financial institution, was lately scheduled to satisfy Prime Minister Narendra Modi and EAM S Jaishankar however he examined constructive for Covid. 

Born within the Pune metropolis of Maharashtra, Banga holds a bachelor’s diploma in Economics from St. Stephen’s School, Delhi College, and a PGP in Administration from the Indian Institute of Administration-Ahmedabad (IIM-A). In 2016, he was awarded Padma Shri – the fourth-highest civilian award in India.