Banga nominated for leadership World Bank has no opponent

Former Mastercard boss Ajay Banga, nominated by the US as the new president of the World Bank, has no opponents. He should soon take over as head of the international financial institution.

As the World Bank announced on Thursday, no nominations had been received by the closing date of the night before.

“In accordance with applicable procedures, the executive directors will conduct a formal interview with the candidate in Washington,” the US capital-based financial institution said. The selection process for the World Bank summit must be completed “on time”. An exact timetable is not known, but a final decision could be made in May.

US President Joe Biden introduced Banga to the post at the end of February. The 63-year-old former boss of payment service provider Mastercard – an Indian-born US citizen – will replace current World Bank president David Malpass.

President traditionally from the USA

The president of the World Bank, whose central mission is the fight against poverty, is traditionally from the US. The International Monetary Fund (IMF), also based in Washington, has traditionally been headed by a European.

Malpass surprisingly announced his resignation in February. He will resign from his position at the end of June, almost a year before the actual end of his term. Malpass, nominated by former US President Donald Trump, was criticized last year for statements about climate change. (sda/afp)