US President Joe Biden has nominated Ajay Banga for the important post of President of the World Bank. Ajay Banga's deep expertise in areas such as financial inclusion and public-private partnerships allows him to lead this institution.
Biden on Thursday nominated 63-year-old Indian-American businessman Ajay Banga to lead the World Bank after World Bank Group President David Malpass announced his resignation recently.
Ajay Banga will be the first American-Indian
Banga will be the first American-Indian and Sikh-American to head either of the top two international financial institutions: the International Monetary Fund and the World Bank, after being confirmed by the World Bank's board of directors. "The President has made an inspired choice by nominating her to this position," Indiaspora founder and president M R Rangaswamy said after the White House announcement.
Important participation in the establishment of USISPF
At the same time, the US-India Strategic and Partnership Forum (USISPF) said that Banga's deep expertise and many years of experience in the field of financial inclusion and public-private partnerships make him the head of the multilateral institution. Banga was instrumental in the formation of USISPF. He is a founding board member of USISPF. Banga, the former CEO of Mastercard, is the vice chairman of General Atlantic.
The President of USISPF congratulated
USISPF President Mukesh Aghi said, “Ajay strongly believes in building on the strength of the US-India relationship. As a founding member of USISPF and a key pillar in our success over the past five years, Ajay has been instrumental in establishing USISPF and played an important role."
The New York Times tweeted
During his career, Banga has become a global leader in innovation for technology, data, financial services, and inclusion, according to the White House. The New York Times tweeted, Banga's selection is likely to herald a sea change at the institute and broaden its ambitions to combat climate change. "We congratulate Banga on this today. His impact on our business and in advancing inclusive growth around the world is well documented. We look forward to continuing our work with the World Bank and Ajay," he said in a tweet. Looking forward to doing so, if appointed by the Board."
Participating in the US-India Strategic Partnership Forum
Ajay Banga is the president of the International Chamber of Commerce. He was appointed as the President in 2020. He is also the chairman of Exor and an independent director at Temasek. He also became an advisor to BeyondNetZero, General Atlantic's climate-focused fund, at its inception in 2021. He has also previously served on the boards of the American Red Cross, Kraft Foods, and Dow Inc. He is a member of the Trilateral Commission of Trustees, and a founding trustee of the US-India Strategic Partnership Forum. Also, has been a former member of the Committee on National Relations on US-China.
Barack Obama's Commission Members
Apart from this, Ajay Banga was also the President Emeritus of the American India Foundation. Banga is a co-founder of The Cyber Readiness Institute, vice president of the Economic Club of New York, and served as a member of President Barack Obama's Commission on Enhancing National Cyber Security. He was also a former member of the US President's Advisory Committee for Trade Policy and Negotiations.
have been honored many times
He has been awarded the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honor in 2019 and the Business Council for International Understanding Global Leadership Award, and the Distinguished Friend of Singapore Public Service Star in 2021.
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