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

Maha Kumbh 2025: Yogi Government’s Strategic Coordination Ensures Timely Preparations

For Maha Kumbh 2025, preparations are in full swing as authorities work to ensure all…

12 hours ago

In Special Gesture, Kuwait’s Prime Minister Sees-Off PM Modi At Airport After Conclusion Of Historic Visit

Prime Minister Narendra Modi wrapped up his two-day visit to Kuwait on Sunday evening. In…

13 hours ago

Maha Kumbh 2025: Shri Panchdashnam Aawahan Akhara Makes Grand Entry Into Maha Kumbh City

Maha Kumbh 2025 with preparations for the Maha Sammelan are in full swing as 13…

14 hours ago

India’s Unifying Initiative: MRM Declares Bhagwat’s Message As The Foundation Of National Unity

The MRM strongly endorsed Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat’s statement on temple-mosque disputes.…

14 hours ago

Maha Kumbh-2025: Prayagraj Mela Authority Deploys Advanced Sanitation Technology

For Maha Kumbh-2025, the Prayagraj Mela Authority has made extensive preparations to provide a clean…

15 hours ago

PM Narendra Modi To Attend Christmas Celebrations At CBCI In New Delhi

Prime Minister Narendra Modi is all set to attend the Christmas celebrations at CBCI Centre…

16 hours ago