{"id":98392,"date":"2023-03-31T10:22:00","date_gmt":"2023-03-31T04:52:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=98392"},"modified":"2023-03-31T10:20:09","modified_gmt":"2023-03-31T04:50:09","slug":"us-wb-ld-banga","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/us-wb-ld-banga\/","title":{"rendered":"Ajay Banga poised to become World Bank chief unopposed"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-608596385\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1325716916\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The World Bank&#8217;s Board of Executive Directors will interview Banga before he is formally appointed.<\/p><p>In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is &#8220;well equipped&#8221; to lead the global institution at &#8220;this critical moment in history.&#8221; The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.<\/p><p>Banga is the only application received for the position of president of the World Bank, the financial institution said.<\/p><div class=\"trade-content_5\" id=\"trade-939437589\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u201cThe Board received one nomination and would like to announce that Mr Ajay Banga, a US national, will be considered for the position,\u201d the bank said.<\/p><p>\u201cIn accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the Presidential selection in due course,\u201d said a media release issued by the bank.<\/p><p>The bank has not announced the timing of the interview.<\/p><p>The former Mastercard Inc. chief, Banga currently serves as Vice Chairman at General Atlantic.<\/p><p>A new leader of the World Bank is expected to be chosen by early May.<\/p><p>\u201cOver the next few months, you will see the World Bank undergo an important transition. We expect that Ajay Banga \u2013 President Biden\u2019s nominee \u2013 will be elected President of the World Bank,\u201d US Treasury Secretary Janet Yellen told lawmakers at a Congressional hearing on Wednesday.<\/p><div class=\"trade-content-10\" id=\"trade-3310582577\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u201cHe will be charged with accelerating our progress to evolve the institution to better address 21st-century challenges. This evolution will help the Bank deliver on its vital poverty alleviation and development goals,\u201d Yellen said.<\/p><p>If confirmed, Banga would become the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.<\/p><p>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.<\/p><p>Malpass faced strong criticism over the bank\u2019s commitment to climate action and over his personal views on climate change.<\/p><p>Last week, reports emerged that China sounded doubtful about backing Banga, saying it is &#8220;open&#8221; to supporting &#8220;other potential candidates&#8221; based on merit.<\/p><p>Banga, however, received overwhelming support from major countries across the world, including India.<\/p><p>Following Banga&#8217;s nomination, he has travelled to several countries for support.<\/p><p>A coalition of 55 advocates, academics, executives, luminaries, and former government officials &#8212; including four Nobel Laureates &#8212; wrote an open letter to welcome and support Banga&#8217;s nomination as the next President of the World Bank.<\/p><p>Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, President Biden had said.<\/p><p>He has also worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America.<\/p><p>He was awarded the Padma Shri in 2016.<\/p><p>Banga is expected to take over the reins of the anti-poverty lender at a crucial time, with the US and Western nations pitching for reforms to focus on addressing a slew of wide-ranging global issues like climate change. PTI LKJ VM AKJ NSA NSA<\/p><div class=\"trade-after-content\" id=\"trade-654330817\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated. The World Bank&#8217;s Board of Executive Directors will interview Banga before he is formally appointed. In February, President Joe Biden announced [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":45820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-98392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ajay Banga poised to become World Bank chief unopposed - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/us-wb-ld-banga\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ajay Banga poised to become World Bank chief unopposed\" \/>\n<meta property=\"og:description\" content=\"Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/us-wb-ld-banga\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-31T04:52:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/The-world-Bank-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/The-world-Bank-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/us-wb-ld-banga\/\",\"url\":\"https:\/\/tradebrains.in\/features\/us-wb-ld-banga\/\",\"name\":\"Ajay Banga poised to become World Bank chief unopposed - 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