Biden singled out Banga’s experience in bringing together public and private resources to address pressing challenges like climate change, and said his background growing up in India gave him unique experiences about the world how the Bank can achieve its twin goals of reducing poverty and expanding prosperity.
The bank has historically been led by someone from the United States, its largest shareholder, while a European headed the International Monetary Fund (IMF), but developing countries and Emerging markets have pushed to widen these options.
