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13-05-2023 | 16:43 PM

Ajay Banga: 14th President of the World Bank

Recently, the Executive Directors of the World Bank selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023.

Key highlights:

• Ajay Banga is the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions the International Monetary Fund and the World Bank.
• Banga received the Padma Shri award in 2016, India’s third-highest civilian award.
• The nomination of Ajay Banga for this post was made by US President Joe Biden in February.
• Previously, he was President and CEO of Mastercard, a global organization.
• He was the Honorary Chairman of the International Chamber of Commerce, serving as Chairman from 2020-2022.