Padma awardee Ajay Banga to lead World Bank: Here is what US President Joe Biden says in his praise
US President Joe Biden on Thursday announced nomination of Ajay Banga, a business leader with extensive experience of leading successful organizations, to be President of the World Bank.
Banga has extensive experience in forging public-private partnerships to address financial inclusion and climate change, said a statement from White House.
"Ajay is uniquely equipped to lead the World Bank at this critical moment in history. 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 has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results, said Joe Biden in a statement.
According to White House, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity.
Ajay Banga currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation.Over the course of his career, Ajay has become a global leader in technology, data, financial services and innovating for inclusion. He is Honorary Chairman of the International Chamber of Commerce, serving as Chairman from 2020-2022.Worked on Boards of American Red CrossHe is also Chairman of Exor and Independent Director at Temasek. Banga became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. He previously served on the Boards of the American Red Cross, Kraft Foods and Dow Inc.In 2012, Ajay was awarded the Foreign Policy Association Medal, the Padma Shri Award by the President of India in 2016, the Ellis Island Medal of Honor and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.