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    Sonal Shridhar Shinde in News

    02-May-2023 10:39 AM


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    World Bank Board To Vote On US Nominee Ajay Banga Tomorrow: Report

    The World Bank's 25-member executive board is set to vote on the U.S. nominee to run the World Bank, Ajay Banga, on Wednesday after completing a four-hour interview with the ex-Mastercard CEO on Monday, sources familiar with the process said.
    Mr Banga, 63, the sole contender to replace departing president David Malpass, is expected to win the consensus-based vote handily after a three-week charm offensive that saw him meet with government officials, business executives and civil society groups around the world, the sources said.
    If approved, Mr Banga could start in the new job in early June after the June 1 departure of Malpass.
    U.S. President Joe Biden nominated Mr Banga, an Indian-born executive who is now a U.S. citizen, in late February.
    One of the sources said Mr Banga had impressed shareholders in recent weeks as a "true change maker" who will help accelerate reforms at the global development bank, which is under pressure to increase its lending to help developing countries address global challenges such as climate change and conflict.
    Source: NDTV