Ajay Banga As The Next World Bank President: Facts About The Unopposed Candidate

Ajay Banga, as nominated by the US President Joe Biden, will lead the World Bank soon as no other alternative candidate has been nominated
Ajay Banga
Ajay Banga

Indian-origin Ajay Banga is set to become the next president of the World Bank. Banga who stands unopposed as the country did not propose an alternative, will be the next chief of the World Bank. Soon after his appointment, Ajay Banga will succeed the current president David Malpass. The President of the United States Joe Biden was the person who officially nominated him to lead the World Bank.

Here is a quick look at some facts about the Indian-origin next chief of the World Bank.

  • Ajay Banga is the son of an Indian Army officer and was born in the Khadki cantonment of Pune. While he graduated from Delhi University, he did his MBA from the prestigious Indian Institute of Management, Ahmedabad (IIM-A). 
  • He started his career at Nestle SA where he worked for a long time across departments like sales, marketing and even management roles. After his role at Nestle SA, Banga joined PepsiCo Inc and helmed the company’s launch of the first fast-food franchise in India. 
  • At present, Ajay Banga is the Vice Chairman at General Atlantic. However, his most famous stint is considered to be his time at Mastercard where he held the post of president and chief executive officer (CEO) for 11 years. 
  • Apart from his role at Mastercard, the next World Bank chief also assumed the role of business head at CitiFinancial, part of the Citigroup. His this stint was also considered very important as soon after the role, he was chosen to lead all of Citigroup’s international consumer operations in 2005. 
  • But shortly after Banga was named Citigroup’s head of the Asia-Pacific region, he stepped down to join Mastercard, where he was promoted to the position of CEO in less than a year. 
  • Like many feathers in his cap, the soon-to-be World Bank President was also awarded the Padma Shri by the Indian government in 2016 and the Distinguished Friends of Singapore Public Service Star in 2021. 

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