The World Bank Group’s Board of Executive Directors announced that Ajay Banga, a United States national, is the sole nominee for the position of the next president of the bank. The statement, issued in Abuja on Friday, confirmed that the nomination period closed on Wednesday at 6:00 p.m. ET, as previously announced on February 22. The board received only one nomination and will consider Ajay Banga for the role.
In accordance with established procedures, the Board will conduct a formal interview with Banga in Washington, D.C., and expects to conclude the presidential selection in due course. The News Agency of Nigeria reported that U.S. President Joe Biden nominated Banga in February, describing him as “well equipped” to lead the World Bank at “this critical moment in history.” No other country put forward an alternate candidate for the prestigious post.
Banga, 63, was born in India and is a naturalized U.S. citizen. He is the former chief executive of Mastercard Inc. and currently serves as vice chairman at General Atlantic. If confirmed, he would become the first Indian‑American to head either of the two top international financial institutions—the International Monetary Fund or the World Bank.
Banga is expected to replace the current World Bank president, David Malpass, who will step down in June, nearly a year before his term is scheduled to expire. Malpass faced strong criticism over the bank’s commitment to climate action and his personal views on climate change.
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