New Delhi: India has made its mark in all areas of the world. Apart from this, India has also received the hosting of G-20 under the chairmanship of Narendra Modi (PM). The United States of America has chosen Ajay Banga, the former CEO of Mastercard and an Indian native, to head the World Bank. Let it be known that Ajay Banga is the first person of Indian origin to be selected for this position. US President Joe Biden on Thursday criticized Banga as chairman of global issues including climate change. Currently, David Malpass is leading the effort to reduce poverty in 189 countries. He is now resigning from his post in June-2023 due to which Banga will now take his place. Let it be known that Ajay Banga was honored with the Padma Shri award in the year 2016. Banga, 63, is currently the vice chairman of General Atlantic.
Malpass was appointed by former President Trump. Addressing the impacts of climate change at the Multilateral Bank is currently the focus of the U.S. is a priority, and leading climate figures have urged the Biden administration to use Malpas’ early departure to overhaul the powerful financial institution, which has been criticized as an effort to address the rich nation’s climate. Malpas came under fire last year for casting doubt on science in comments during a conference that said the burning of fossil fuels causes global warming. Later he apologized and said that he had said this wrongly.
The reins have now been handed over to Banga, currently vice chairman of private equity firm General Atlantic. He has more than 30 years of professional experience. He has served in various roles on the boards of MasterCard and the American Red Cross, Kraft Foods and Dow Inc. He is the first person of Indian origin to be nominated for the role of President of the World Bank. Ajay is uniquely qualified to lead the World Bank at this important historical moment. Biden said Banga has “remarkable experience in mobilizing public-private resources to address some of the most pressing challenges of our time, including climate change.”