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Biden picks Ajay Banga to lead World Bank

The World Bank has traditionally had a President from the United States, its largest shareholder.

Ajay Banga. Image - General Atlantic 

United States President Joe Biden nominated prominent Indian American business leader, Ajay Banga, for the role of president of the World Bank on February 23, 2023. The nomination comes after current President David Malpass announced his decision to step down from the role.

According to the President, Banga is “well-equipped” to take on the role and has a “proven track record” of leading global companies to deliver results. “Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity,” Biden said in a statement released by the White House.

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