Banga will use corporate experience in pursuing WB goals: Sitharaman

INCHEON: Finance minister Nirmala Sitharaman on Thursday exuded confidence that the incoming World Bank President Ajay Banga will utilise his corporate world experience in pursuing the goals of the multilateral lending agency. Banga, 63, will take over as the president of the World Bank on June 2. He will succeed president David Malpass. “Hearty congratulations Ajay Banga on being selected as the President of @WorldBank. I am confident that you’ll bring your wide experience in the corporate world for meeting the goals of the Bank,” Sitharaman tweeted. Banga will be the first-ever Indian-American to head the global financial institution. “The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023,” the World Bank had said. In February, US President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is “well equipped” to lead the global institution at “this critical moment in history”. Banga, who was awarded the Padma Shri in 2016, most recently served as vice chairman at General Atlantic.