Biden Nominates Ex-Mastercard CEO Ajay Banga To Head World Bank

On Thursday, Vice President Joe Biden announced the United States' nomination of Ajay Banga to lead the World Bank

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citing his belief that the Indian-American business leader is best suited to lead the global institution at "this critical moment in history."

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Former Mastercard CEO and now vice chairman at General Electric.

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he will take over for former Trump Treasury official and World Bank governor David Malpass.

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Malpass has stated that he will step down by July, which is several months before the end of his term.

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Banga, 63, was born in Pune to an Indian Army officer.

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In 2007, he became a naturalised US citizen, and in 2016, he was honoured with the Padma Shri for his contributions to India.

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