BREAKING: President Biden formally nominated former Mastercard CEO Ajay Banga to lead the World Bank. The announcement touts Banga as a business leader with experience forging public-private partnerships to address 'financial inclusion' & climate change.
The announcement touts Banga as a business leader with experience forging public-private partnerships to address"financial inclusion" and climate change."Ajay is uniquely equipped to lead the World Bank at this critical moment in history," Biden said in a statement.
Banga will join the World Bank from General Atlantic, where he serves as vice chairman. He was president and CEO of Mastercard in 2020, during which he reportedly earned $27.77 million. "He also has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change," Biden said."Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity.
Former World Bank leader David Malpass announced last year that he would step down amid accusations of being hostile to climate change concerns.
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