New Delhi (India), 31st March 2023: Ajay Banga, who was born in India, is expected to succeed Jim Yong Kim as President of the World Bank. The organisation revealed on Thursday that no other candidates have been put forward for the position. Before he is officially appointed, Banga will be interviewed by the World Bank’s Board of Executive Directors.
Nominations were accepted until March 29, 2023. The World Bank will be led by Banga, who is “well equipped” to do so at “this critical moment in history,” according to US President Joe Biden’s who nominated Banga in February.
On March 29th, the World Bank ended a month-long period for candidates to submit names for its next president, with 63-year-old Banga remaining the only candidate. According to a PTI report, Banga’s application is the only one that the financial institution has gotten for the position of president of the World Bank.
Banga, who was born in Pune, would be the first Indian-American president of either of the two major international financial organisations, the World Bank or the International Monetary Fund.
In 2016, Banga received the Padma Shri for his exemplary contributions in the business and management sector and also for bringing India’s name onto the global stage.