Ajay Banga, the newly appointed President of the World Bank, is set to embark on his first visit to India since assuming leadership of the global lender.
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.
Ajay Banga will be a transformative leader , who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
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And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction including climate change, Biden said on Wednesday.Ajay will also be integral in bringing together the public and private sectors, alongside philanthropies, to usher in the fundamental changes in development finance that this moment requires, said the president congratulating his nominee for the next President of the World Bank on his resounding approval by the Banks Board of Governors.