Ajay Banga will take charge as the President of World Bank today, tenure will be of 5 years

Ajay Banga as World Bank President: Ajay Banga, an American citizen of Indian origin, will take over as the President of the World Bank on June 2, 2023, for 5 years. Earlier on May 3, the executive directors of the World Bank had announced the appointment of Banga. Ajay Banga has previously held the post of CEO of Mastercard. He was nominated for this post by US President Joe Biden. Along with this, no other contender had come forward for this post. He will replace the current president David Malpass.

Climate change is a special challenge

Ajay Banga’s tenure as the President of the World Bank will be for a full 5 years. He has good experience in handling financial and development work. While nominating Banga, Joe Biden had said that he has a lot of experience in facing challenges like climate change. Along with this, the World Bank has said in an official statement that the bank is excited to work with Banga and will try to meet the expectations of all by overcoming the challenges of developing countries. Let us tell you that many questions were being raised on David Malpass on the issue of climate change, after which he had decided to leave the post even before the end of his tenure.

Banga is the first World Bank President of Indian origin.

Ajay Banga is the first person of Indian origin who is going to occupy this post. He has also held important positions in the International Monetary Fund. Between 2010 and 2021, he served as the CEO of Mastercard. His full name is Ajaypal Singh Banga and he was born on 10 November 1959 in Pune, Maharashtra, India. His father held the rank of Lieutenant General in the Indian Army. His family is originally from Jalandhar, Punjab.

He has graduated in Economics from Stephens College, Delhi. After this he did MBA from IIM Ahmedabad. In the year 1980, he started his career with the world’s largest company, Nestle India. In the year 2007, he also got American citizenship. He was awarded the Padma Shri by the Government of India in the year 2016 for his contribution in the financial sector.

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