Bharat Express

Ajay Banga

The first day of the summit revolved around the Russia-Ukraine conflict, with leaders endorsing a US proposal to provide a USD 50-billion loan to Kyiv using frozen Russian assets.

Ajay Banga, an American citizen of Indian origin, assumed official leadership of the World Bank on Friday.

Banga is a co-founder of The Cyber Readiness Institute and was Vice Chair of the Economic Club of New York

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 Bank stated that it is excited to work with its first-ever Indian-American CEO.