THE World Bank Group’s Board of Executive Directors has announced Ajay Banga, a US national, as the sole nominee for the position of the next President of the bank.
US President, Joe Biden, had in February, nominated Banga to lead the World Bank.
Confirming Banga’s selection for the prestigious post, the World Bank, in a statement issued on Friday, in Abuja, said its board received one nomination, adding that Banga will be considered for the position.
The statement read: “The World Bank Group’s Board of Executive Directors, today confirmed that, as announced on Feb. 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday, at 6:00 pm ET.”
“The board received one nomination and would like to announce that Ajay Banga, a US 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.”
Banga, 63, a naturalised U.S. citizen, was born in India. The former Mastercard Inc. chief, currently serves as Vice Chairman at General Atlantic.
If confirmed, Banga would become the first-ever Indian-American to head either of the two top international financial institutions – the International Monetary Fund (IMF) and the World Bank.
Banga is expected to replace the current World Bank president, David Malpass, who will step down in June, nearly a year before his term is scheduled to expire.
