Ajay Banga’s Indian perspective can end global financial issues: Joe Biden

The President of the United States, Joe Biden has nominated Indian-American former Mastercard chairman Ajay Banga for the presidency of the World Bank. Notably, Banga will succeed David Malpass, a former Trump treasury official.

While nominating Banga, Biden claimed that Ajay is uniquely equipped to lead the World Bank at this critical moment in the 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 organisations through periods of fundamental change,” Biden said.

The US president further noted that Banga, 63, 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.’

In its statement, The White House observed that Ajay Banga has previously served on the Boards of the American Red Cross, Kraft Foods and Dow Inc, and worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America. 

He is also a member of the Trilateral Commission, a founding trustee of the U.S. – India Strategic Partnership Forum, a former member of the National Committee on United States-China Relations and Chairman Emeritus of the American India Foundation.