Biden nominates Ajay Banga as World Bank president

Biden, whose remarks were included in the White House statement, said that Banga, who has more than 30 years of experience, is equipped to lead the World Bank.

Biden said Banga has a proven track record of partnering with global leaders from around the world, citing his experience building and running successful global companies that create jobs and attract investment in emerging economies, and guide organizations through times of profound change. .

Also referring to Banga’s experience in mobilizing public and private resources to tackle the most pressing issues of the time, including climate change, Biden said: “Growing up in India, Ajay is well prepared for the opportunities and challenges that lie ahead. facing developing countries and the World Bank’s commitment to reduce poverty and improve well-being.He has a unique perspective on how he can deliver on his ambitious agenda on used the phrase.

The statement also included the CV of the World Bank President candidate, while noting that Ajay Banga is currently serving as Vice President at General Atlantic.

US Treasury Secretary Janet Yellen, in her statement on Ajay Banga’s nomination for World Bank president, said Banga will have the right leadership and management skills, experience of living and working in emerging markets, and will lead the World Bank, will achieve key development. and transform the bank on global issues like climate change, and she said he has the financial expertise to develop them and overcome difficulties.

Emphasizing that Banga’s experience will help the World Bank achieve its goals of eradicating extreme poverty and expanding shared prosperity, Yellen also noted the importance of Banga’s story in building partnerships between the public sector, the private sector and non-profit organizations.

A NEW PRESIDENT IS EXPECTED TO BE ELECTED AT THE BEGINNING OF MAY

On the other hand, in a statement issued yesterday by the World Bank, it was reported that the Executive Board of the World Bank met to discuss the election of the next president, after the current president David Malpass announced that he would resign.

In the statement, which also included criteria for the next president, it was noted that a new president was expected to be elected in early May.

The statement also announced that presidential nominees must be submitted by March 29. (AA)