Biden pick Ajay Banga cleared to take top job at World Bank
The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job
WASHINGTON (AP) — The Biden administration's choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job.
The World Bank said Thursday that Banga was the only candidate nominated in a search that began more than a month ago.
The current president of the 189-nation poverty-fighting organization, David Malpass, announced last month that he would step down in June, nearly a year before his five-year term was due to expire in April 2024.
The World Bank is under pressure to do more to help poor countries finance projects to combat and prepare for climate change without saddling them with heavy debts. And critics say it needs to do a better job of tackling problems that cross borders such as providing pandemic surveillance and backing broad vaccination programs.
