US President Joe Biden plans to appoint former Mastercard boss Ajay Banga as head of the World Bank Group, replacing David Malpass, who will step down at the end of June, reports the Wall Street Journal.
As the largest shareholder of the World Bank, the United States usually chooses the head of the Bretton Woods institution, a position that does not require Senate confirmation, although the bank’s board must formally name Mr. Banga, notes the newspaper.
Mr. Banga has spent more than three decades building and managing successful global businesses that “create jobs and bring investment to developing economies, and guide organizations through periods of fundamental change”, the same said. source.
On Wednesday, the World Bank’s board of directors said it would start accepting candidates before reviewing a shortlist of candidates, with the aim of selecting a new leader in early May to replace Mr Malpass, appointed under the administration of former President Donald Trump.
“It has been a tremendous honor and privilege to serve as president of the world’s premier development institution,” Malpass said in a statement.
Asked regarding the reason for his early departure, Mr Malpass said in a text message that he was “very proud of my more than four years of hard and successful work here”.
“I’m leaving on my own schedule, having effectively handled multiple global crises,” he said according to a quote from The New York Times.
With MAP
