By John Ikani
The World Bank has announced that Ajay Banga, a US national, is the sole nominee for the position of the bank’s next president.
The revelation was contained in a statement released by the bank’s group Board of Executive Directors on Friday.
According to the statement, the board received only one nomination, and in accordance with established procedures, the Board of Executive Directors will conduct a formal interview with Mr Banga in Washington D.C., and expects to conclude the presidential selection in due course.
In February, US President Joe Biden nominated Mr Banga for the position, stating that he is “well equipped” to lead the institution at “this critical moment in history.”
Mr Banga, a naturalized U.S. citizen born in India, is a former chief of Mastercard Inc. and presently serves as the vice-chairman at General Atlantic.
Notably, no other country proposed an alternate candidate for the prestigious post.
If confirmed, Mr Banga would become the first-ever Indian-American to lead either of the two top international financial institutions, the International Monetary Fund and the World Bank.
David Malpass, the current World Bank president, will step down in June, almost a year before his term expires.
Mr Malpass was criticized over the bank’s commitment to climate action and his personal views on climate change.
