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WASHINGTON, May 3, 2023

From our Overseas Bureau

Indian-American business leader Ajay Banga was today appointed as the next President of World Bank, which said it looks forward to working with him on the World Bank Group Evolution process.

The Executive directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023, the bank revealed.

In February, President Joe Biden announced that the U.S. would be nominating Banga, aged 63, to lead the World Bank because he is well equipped to lead the global institution at this critical moment in history.

The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process, as discussed at the April 2023 Spring Meetings and on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries, the statement from World Bank said.

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