[ad_1]
Ajay Banga: Indian-origin former MasterCard CEO Ajay Banga was on Wednesday elected the next President of the World Bank. He will be the first president of Asian origin. He will assume his post on June 2, 2023. His tenure will be of 5 years. Significantly, Ajay Banga was elected unopposed by the 25-member executive board on Wednesday. Prior to this, Banga has also been the CEO of Mastercard. He has vast experience in financial and development work. In this tenure, there will be a big challenge of climate change in front of him. Earlier, David Malpass, the current President of the World Bank (World Bank New President Ajay Banga), had announced to step down even before the completion of his tenure at the beginning of the year.
Joe Biden nominated for the post
US President Joe Biden nominated Ajay Banga for the post of President of the World Bank in February after David Malpass announced his resignation. Since then, Ajay Banga’s becoming the President of the World Bank was considered almost certain because no other person presented his candidature in front of him. While nominating him, Joe Biden had said that Banga has a lot of experience in facing challenges like climate change. In such a situation, he is able to raise resources from public and private sector for this.
India has a special relationship
India is an important part of Ajay Banga’s identity. His full name is Ajaypal Singh Banga. Ajay Banga was born on 10 November 1959 in Pune, Maharashtra, India. His father Harbhajan Singh Banga has been a lieutenant general in the Indian Army. His family is originally from Jalandhar, Punjab. Banga got American citizenship in the year 2007. He has graduated in Economics from St. Stephen’s College. After this he completed his MBA from IIM Ahmedabad. He started his career in the year 1980 with Nestle India. He served as the CEO of Mastercard for more than 10 years. Along with this, he has also been involved in the board of many companies like American Red Cross, Kraft Food. He has also been the Vice Chairman of the private equity firm General Atlantic.
Government of India gave Padma Shri in the year 2016
The Government of India honored Ajay Banga with the Padma Shri in the year 2016 for his contribution in the financial sector. He will take over as the President of the World Bank on June 2, 2023. There are many new challenges before them. Most important in this is to increase the private sector’s share in climate change.
read this also-
Petrol Diesel Price: Fall in crude oil prices, fuel rates changed in many cities
[ad_2]
Source link