A new President of the World Bank has been elected
Indian-American entrepreneur Ajay Banga has become the new 14th president of the World Bank, the press service of the organization reports.
The 63-year-old businessman, who was the only candidate for the post, will head all organizations of the World Bank Group, including the parent structure - the International Bank for Reconstruction and Development.
The new President of the World Bank will take up his duties within a five-year term on June 2, 2023.
Ajay Bangui was nominated by US President Joe Biden, who stated that Banga has "unique capabilities" to lead the bank "at this critical moment in history."
For a long time, Ajay Banga headed MasterCard, was vice chairman of the General Atlantic investment Fund. From 2020 to 2022, he headed the International Chamber of Commerce.
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