President Joe Biden

President Joe Biden's nomination of Ajay Banga to lead the World Bank comes after David Malpass announced last week he will step down.

Banga was the top executive at Mastercard from 2010 to 2020. [next president of the World Bank](https://www.usatoday.com/story/news/politics/2023/02/23/washington-biden-news-live-updates/11324100002/). [ President Joe Biden](https://www.usatoday.com/story/news/politics/2023/02/21/joe-biden-ukraine-russia-poland-kyiv-trip-speech/11306842002/) has tapped a new head of the World Bank after the bank's current leader, David Malpass, announced his resignation last week amid criticism over statements he made skeptical of climate change.

Washington: US President Joe Biden has nominated former India-origin MasterCard CEO Ajay Banga to be the President of World Bank.

He is a past member of the U.S. He is a co-founder of The Cyber Readiness Institute, Vice Chair of the Economic Club of New York and served as a member of President Obama’s Commission on Enhancing National Cybersecurity. Ajay has worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America. "He also has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change. He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change. He is a member of the Trilateral Commission, a founding trustee of the U.S.-India Strategic Partnership Forum, a former member of the National Committee on United States-China Relations, and Chairman Emeritus of the American India Foundation.

President Joe Biden announced the nomination of General Atlantic Vice Chairman and former Mastercard CEO Ajay Banga for president of the World Bank on ...

Banga's track record of forging partnerships between the public sector, private sector, and non-profits uniquely equips him to help mobilize the private capital and press for the reforms needed to meet our shared ambitions." Currently he serves as honorary chairman of the International Chamber of Commerce, chairman of Dutch holding company Exor, board member for Temasek and co-chair of the Partnership of Central America. "He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results." [served](https://www.generalatlantic.com/people/team/ajay-banga/) on the board for Kraft Inc., Dow Inc., the Red Cross and [Weill Cornell](https://www.upi.com/topic/Weill_Cornell/) Medicine. Malpass has served as president since 2019. [Joe Biden](https://www.upi.com/topic/Joe_Biden/) announced the nomination of General Atlantic Vice Chairman and former Mastercard CEO Ajay Banga for president of the World Bank on Thursday.

International Business News: Former chief executive officer (CEO) of Mastercard Ajay Banga has been nominated by the United States to to lead the World Bank ...

Banga's nomination is the first to be made public, but the bank will accept nominations from other member countries through March 29. Vice President Kamala Harris to mobilize public, private and non-profit resources for Northern Central America.(With inputs from agencies) Malpass' five-year term with World Bank was due to end in April 2024.

US President Joe Biden on Thursday announced nomination of Ajay Banga, a business leader with extensive experience of leading successful organizations, ...

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U.S. President Joe Biden on Thursday nominated business executive Ajay Banga to become president of the World Bank, lauding his experience forging ...