The Biden administration on Thursday nominated Ajay Banga, a former Mastercard executive who is now vice chairman at the private equity firm General Atlantic, to be the next president of the World Bank. Banga is still subject to a months-long confirmation process before the bank’s board reaches a final decision. As the bank’s largest shareholder, the United States has typically chosen its leader, although other countries could still put forward nominations of their own.
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Biden nominates Ajay Banga to lead World Bank
“He … has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change."
