Page 33 - David Malpass News Today

WASHINGTON — Ajay Banga began his first day at the helm of the World Bank Group on Friday, taking charge of the development lender as it grapples with questions about its future direction."We are at a critical moment in the arc of humanity and the planet," Banga wrote Friday morning in an email to staff obtained by AFP, calling on the bank to "evolve" to meet the challenges it

Banga has become the first-ever Indian-American to head the World Bank

 WASHINGTON, June 3, 2023 (BSS/AFP) - Ajay Banga began his first day at the helm of the World Bank Group

An economist, Prof. Akpan Ekpo, has advised the Federal Government to heed to the advice of the World Bank on multiple exchange rate and tread with caution. | Pulse Nigeria

Indian American Ajay Banga on Friday took over as the President of the World Bank, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund.

Indian American Ajay Banga on Friday took over as the President of the World Bank, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund. On May 3, the Executive Directors of the World Bank selected Banga, 63, as the 14th President of the World Bank for a five-year term.

Among other awards, Banga had also been conferred with a Padma Shri in India, back in 2016.

Indian American Ajay Banga becomes the first person of colour to head the World Bank, succeeding David Malpass. Banga previously served as Vice Chairman at General Atlantic and was President and CEO of Mastercard.

This appointment makes Banga the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund.

Indian-origin man in the United States of America Ajay Banga becomes the 14th president of the World Bank. He also becomes the first-ever Indian American to head the institution.