Ajay Banga is the only nominee to be the next president of the World Bank as the period for submitting nominations for the position has ended, the international financial institution announced Thursday. The World Bank Group’s board of executive directors said in a statement they received one nomination, and announced that Banga, a US national, will be considered for the position. “In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the Presidential selection in due course,” the statement said. Banga, 63, was nominated last month by US President Joe Biden who described him as “a business leader with extensive experience” leading organizations in developing countries and forging public-private partnerships to address financial inclusion and climate change. Being elected chairman of the International Chamber of Commerce, Banga held various roles at PepsiCo and Nestle. Born and raised in India, Banga was appointed in February 2015 by then-President Barack Obama to serve as a member of his Advisory Committee for Trade Policy and Negotiations. If approved, Banga would replace David Malpass, who is stepping down with one year left at the helm, after serving four years of his five-year term.
Source: Anadolu Agency