Tuesday, June 6, 2023
HomeEconomyBiden nominates ex-Mastercard CEO Ajaibanga for World Bank chief

Biden nominates ex-Mastercard CEO Ajaibanga for World Bank chief


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Andrea Shalal

WASHINGTON (Reuters) – U.S. President Joe Biden nominated top business executives on Thursday Ajay Banga, president of the World Bank, lauded his experience in building public-private partnerships to tackle financial inclusion and climate change.

The World Bank said on Wednesday it expected to elect a new president by early May to replace David Malpass, who announced his resignation last week after His views on climate change have sparked months of controversy, with Treasury Secretary Janet Yellen pressuring him to adopt “bolder and more imaginative” reforms.

Scott Morris, a senior fellow at the Center for Global Development and a former U.S. Treasury Department official, said: “I don’t think the speed of nominations is as fast as Hours after the World Bank Board initiated the process, it reflected a desire to hold off any challengers and bring it to a swift end.”



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