The World Bank's 25-member Executive Board has chosen former MasterCard CEO Ajay Banga as president for a five-year term from June 2, with the Indian-born finance and development expert responsible for developing the bank's plans for climate change and other global crises.
US President Joe Biden nominated Banga, 63, for the post in late February. Banga was the only candidate to succeed outgoing bank president David Malpass, an economist and Treasury official in former U.S. President Donald Trump.
Source (Al-Arabiya.net Website, Edited)
