Ajay Banga is elected president of the World Bank, the focus will be on global crises

2023-05-04 19:09:19Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Ajay Banga is elected president of the World Bank, the focus will be on global
Ajay Banga

Ajay Banga will be the new President of the World Bank for a five-year term. The World Bank's board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, bringing in an Indian-born finance and development expert to revamp the institution's policies on climate change and other global crises. .

Banga, 63, was nominated for the post by US President Joe Biden in late February and was the only contender to replace outgoing World Bank chief David Malpass, an economist and former US Treasury official. , who served in the Trump administration. He starts his new job on June 2.

The selection came after World Bank board members interviewed Banga for four hours on Monday. Malpass' last day at the bank will be June 1. 24 members of the Board voted in favor while only Russia abstained.

Biden congratulated Banga on his choice to lead the World Bank, which he described as one of humanity's most important institutions to reduce poverty and expand prosperity around the globe.
Treasury Secretary Janet Yellen said Banga brought the right leadership and management skills to the job and would play an essential role in pushing forward additional reforms, including creating partnerships between the public and private sectors and nonprofit groups.


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