Tech
Ajay Banga Is World Bank’s Sole Nominee For President
The World Bank Group’s board of executive directors has announced that Ajay Banga, a U.S. national, is the only nominee for the position of the bank’s next president.
The announcement was made in a statement issued by the World Bank in Abuja on Friday.
“The World Bank Group’s Board of Executive Directors today confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday at 6:00 p.m. ET,” the statement said.
It added, “The board received one nomination and would like to announce that Ajay Banga, a U.S. national, will be considered for the position. In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the presidential selection in due course.”
In February, U.S. President Joe Biden nominated Mr Banga to lead the World Bank, citing his suitability to lead the institution at a critical moment in history. No other country has proposed an alternative candidate for the post.
Mr Banga, who was born in India and is a naturalised U.S. citizen, a former chief of Mastercard Inc. and currently serves as vice-chairman at General Atlantic.
If confirmed, Mr Banga would be the first-ever Indian-American to head either of the two top international financial institutions, the International Monetary Fund and the World Bank. He is expected to replace World Bank President David Malpass, who will step down in June, almost a year before his term expires. Mr Malpass faced criticism over the bank’s commitment to climate action and his personal views on climate change.
- Top Stories11 hours ago
Breaking: FIRS Officially Launches Recruitment Portal, List Positions
- Politics12 hours ago
Peter Obi Makes U-turn, Sets Record Straight On Church Vigils Statement
- Top Stories12 hours ago
Those Importing PMS Cheaper Than Ours Are Selling Substandard Products – Dangote
- News12 hours ago
Ondo Decides2024: You’ve destroyed Akeredolu’s legacy – Ajayi tells Aiyedatiwa
- Top Stories10 hours ago
#USDecides2024: Bill Clinton has hopes and fears on what comes after 2024 …
- Entertainment12 hours ago
AMAA 2024: Femi Adebayo’s ‘Jagun Jagun’ bags 3 awards
- Entertainment10 hours ago
Miami Beach officially revokes Diddy’s Key to the City
- Entertainment5 hours ago
Legendary music producer, Quincy Jones d!es at 91