On Friday, Ajay Banga, an American citizen of Indian origin, assumed official leadership of the World Bank, which he will be holding for five years. Earlier, on May 3, the World Bank’s executive directors announced his appointment following US Vice President Joe Biden’s nomination. The World Bank’s 14th president, Ajay Banga, took over for David Malpass. He was Vice Chairman of the equity firm General Atlantic prior to accepting the position of President and is well-known throughout the world as the CEO of Master Card.

In a formal statement, the World Bank stated that it was eager to work with Bangladesh and would make every effort to live up to expectations by overcoming the difficulties faced by developing nations.

About Ajay Banga

 

Ajay attended the Indian Institute of Ahmedabad (IIM) to study management. He has more than 30 years of professional experience in the field. Ajay Banga served as the company’s president and CEO and a director on the board of directors. He began working for MasterCard in August 2009, and in April 2010, he was named President and CEO of the company. He previously served as Citigroup’s Asia-Pacific region’s CEO. In addition to this, Banga has worked with companies like Dow Inc., Kraft Foods, and the American Red Cross.

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Challenges Ahead of Ajay Banga

 

US President Joe Biden stated that Banga has extensive experience dealing with issues like climate change when announcing his nomination. David Malpass was the subject of numerous inquiries regarding climate change, and as a result, he decided to resign from his position even before his term had officially ended.

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