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WASHINGTON, Feb. 24, 2023

From our Overseas Bureau

Indian-American Ajay Banga, the former C.E.O. of Mastercard, was on Thursday nominated by United States’ President Joe Biden to lead the World Bank. He is Stephen’s Graduate, I.I.M. Alumnus and is the first Indian-born Nominee to the World Bank Chief Post

In a statement, Biden said the business leader is uniquely equipped to lead the global institution at this critical moment in history. He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies and guiding organisations through periods of fundamental change, the U.S. President said.

Ajay Banga, aged 63, if confirmed by the World Bank Board of Directors, would be the first-ever Indian-American to head either of the two top international financial institutions, the International Monetary Fund and the World Bank.

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