Ajay Banga, 63, was the only candidate in the competition for the post of president of the World Bank, the international institution of 189 countries concerned with the fight against poverty.
Banga is the son of an Indian Army officer with decades of experience in big business and previously served as CEO of MasterCard.
The new president of the World Bank will take office on June 2 for a five-year term, one day after the end of the term of his predecessor, David Malpas, who was chosen by former US President Donald Trump.
Malpass ended his work at the World Bank shortly after coming under pressure for refusing to say whether he agreed with the scientific consensus on climate change.
Sources close to the institution indicated that the candidate has repeatedly confirmed that he wants to give priority to the financing of the fight against global warming and to the reform of the World Bank, according to what reported the agency “Agence France Press”.
After confirming Banga’s selection as chairman, the bank’s executive directors said in a statement that they looked forward to working with him and in all of the bank’s “ambitions and endeavors to address the most pressing development challenges”. challenges facing developing countries,” according to the Associated Press.
US President Joe Biden congratulated Banga.
He stressed that he was ready to “support his efforts to improve the performance of the World Bank, which remains one of the most important institutions in the fight against poverty in the world”.
He said Banga “will help guide the foundation as it evolves and grows to address global challenges that directly impact its core mission of poverty reduction, including climate change.”
Why this candidate in particular?
Amid growing geopolitical tension, the US decision to appoint Banga, who was born and raised in India, was deliberate, as the US tries to move closer to India to counter Chinese influence in the region, according to “AFP”.
“Ajay is a tireless believer in both the strength of US-India ties and strengthening the relationship even further. Ajay has been instrumental in setting up USISPF as a founding board member and a vital pillar in our success over the last five years,” said Mukesh Aghi, president of USISPF, as reported in the Economic Times.
Subsequently, Ajay Banga embarked on a world tour to promote his candidacy and win the support of as many countries as possible, especially emerging and developing countries.
He was thus able to count on India, Kenya, and even South Africa, which supported his candidacy.
“I think the campaign is going well, said a US Treasury official at the end of March. His expertise is considered absolutely essential”.
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