An Indian Origin man is now leading the World Bank .
The World Bank’s 25-member executive board elected former Mastercard CEO Ajay Banga to a five-year term as president, effective June 2, ushering in the India-born finance and development expert to revamp the lender to tackle climate change and other global crises.
Banga, 63, was nominated for the post by US President Joe Biden in late February and was the sole contender to replace departing World Bank chief David Malpass, an economist and former US Treasury official during the Trump administration.
Ajay Banga has met with officials from 96 governments since his nomination, the source said. He visited eight countries during a three-week world tour to meet with government officials, business leaders and civil society groups, flying a total of 39,546 miles.
The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European. Banga, who was born in India and spent his early career there, has been a US citizen since 2007.
