US President Joe Biden nominated Indian-born Ajay Banga as the President of the World Bank. The White House said this in a statement on Thursday. If all goes as planned, Ajay Banga will be the next president of the World Bank. Joe Biden said that people like Ajay Banga are capable of leading the World Bank at a time when the economic conditions around the world are difficult. He said that Ajay has started and managed many companies in the past three decades.
Meanwhile, Devil Malpass, who was the president of the World Bank until now, resigned from his position last week. A new president has to be chosen in his place by May. However, the American leadership and high officials have decided to nominate Joe Biden for this post.
Born in India, Ajay Banga completed his graduation in Economics from Delhi University. Later he pursued his higher education at IIM Ahmedabad. Later worked in Citigroup and Nestlé for ten years. Later, he worked in famous companies like PepsiCo and MasterCard. Ajay Banga is currently working as the Vice Chairman of the equity firm General Atlantic.
