US President Joe Biden nominated ex-Mastercard CEO Ajay Banga to lead the World Bank, after David Malpass announced his resignation last week.
Biden noted Banga’s decades of experience building global companies and public-private partnerships to fund responses to climate change and migration.
The bank has historically been led by a US representative, its largest shareholder, while a European heads the IMF.
The World Bank will still accept nominations from other member countries until March 29. Germany, another major shareholder, said this week the job should go to a woman since the bank has never been headed by a woman.
In response, a senior US official said Banga has “a personal conviction and excellent track record promoting diversity, equity and inclusion in the work that he does” and will bring that view to the bank.
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