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New World Bank President
March 1 , 2023
630 days
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- Indian-American business executive Ajay Banga was nominated by US President Joe Biden to head the World Bank.
- He will be the first Indian-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.
- He was also the president and CEO of Mastercard, the financial services company.
- In 2016, Banga was awarded the Padma Shri by the President of India.
- The president of the World Bank is ex officio chair of the Board of executive directors of the International Bank for Reconstruction and Development (IBRD) or the World Bank and the International Development Association (IDA).
- US banker David Malpass was the previous president of the World Bank Group who stepped down recently.
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