Business

Biden Congratulates Ajay Banga On Being Elected As President of World Bank

United States President Joe Biden congratulated Ajay Banga on becoming the next President of the World Bank. Biden also stated that he is looking forward to supporting Banga’s efforts to transform the World Bank to reduce poverty and address global challenges including climate.

“Congratulations to my nominee, Ajay Banga, on becoming the next President of the World Bank. I look forward to working with Ajay in his new role, and to supporting his efforts to transform the World Bank to reduce poverty and address global challenges including climate,” US President tweeted.

Earlier, US Vice President Kamala Harris also congratulated India-born Ajay Banga on being elected as the President of the World Bank.

Appreciating Banga for his past work, Harris tweeted, “Congratulations to Ajay Banga on his election as President of the World Bank. Ajay has been an incredible partner in our work in Central America, helping to deliver hope and opportunity on the ground. I look forward to our continued work together.”

On Wednesday, Banga has been elected as the World Bank’s next president. A 25-member executive board elected the ex-Mastercard CEO who was nominated for the post by US President Joe Biden in late February.

“The Board looks forward to working with Mr Banga on the World Bank Group Evolution process,” the bank said in a statement published shortly after the board voted to approve his leadership for a five-year term.

Banga, a finance and development expert, will take over the role on June 2. He was the sole contender to replace departing World Bank chief David Malpass whose term ends early next month. Sources familiar with the process said that Banga won the board’s approval after several meetings in recent weeks and a formal interview on Monday.

He became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. Previously, Ajay Banga served on the Boards of the American Red Cross, Kraft Foods and Dow Inc. He has worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America.

Banga is a co-founder of The Cyber Readiness Institute and served as a member of President Obama’s Commission on Enhancing National Cybersecurity. He is a past member of the U.S. President’s Advisory Committee for Trade Policy and Negotiations.

He was awarded the Foreign Policy Association Medal in 2012, the Padma Shri Award by the President of India in 2016, the Ellis Island Medal of Honor and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.

(Source – ANI)

Bharat Express English

Recent Posts

PM Modi Heads To Thailand For 6th BIMSTEC Summit; Strengthen Regional Relations

Prime Minister Narendra Modi headed for Bangkok on Thursday to attend the 6th BIMSTEC Summit…

28 mins ago

Delhi High Court Stays Appointment Of Anilkumar Prabhakaran As AIFF General Secretary

The Delhi High Court has stayed the appointment of Anilkumar Prabhakaran as the General Secretary…

2 hours ago

MCOCA Case: Delhi High Court To Hear Naresh Baliyan’s Bail Plea On April 9

The Delhi High Court will hear the bail plea of former AAP MLA Naresh Baliyan…

2 hours ago

SC Upholds Rajasthan’s Electricity Regulations; Dismissing Power Companies Plea

The Supreme Court has granted a major relief to the Rajasthan government by upholding the…

14 hours ago

SC Expresses Concern Over Rising Trend Of False Rape Cases On Marriage Promises

The Supreme Court has expressed concern over the rising tendency to register rape cases based…

15 hours ago

Adani Ports Mundra Sets National Record With Historic 200 MMT Cargo Handling Milestone

Adani Ports & Special Economic Zone set a national record by handling 450 MMT of…

15 hours ago