U.S. President Joe Biden intends to nominate former MasterCard chief executive Ajay Banga to head the World Bank, quickly filling a top vacancy at the international institution where the U.S. is pushing for reforms.
U.S. President Joe Biden intends to nominate former Mastercard Inc. (MA) Chief Executive Ajay Banga to head the World Bank, quickly filling a top vacancy at the top of the international institution the U.S. is pushing for reforms.
As the World Bank’s largest shareholder, the U.S. typically selects the institution’s leader, a nominee that does not require Senate confirmation but formal appointment by the World Bank’s board of directors. The World Bank’s board said on Wednesday it would begin accepting nominations and interviewing shortlisted candidates with the aim of electing a new leader by early May.
If elected, Banga will replace former President Trump appointee David Malpass, who announced last week that he will step down on June 30.
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U.S. President Joe Biden intends to nominate former Mastercard Inc. (MA) Chief Executive Ajay Banga to head the World Bank, quickly filling a top vacancy at the top of the international institution the U.S. is pushing for reforms.
As the World Bank’s largest shareholder, the U.S. typically selects the institution’s leader, a nominee that does not require Senate confirmation but formal appointment by the World Bank’s board of directors. The World Bank’s board said on Wednesday it would begin accepting nominations and interviewing shortlisted candidates with the aim of electing a new leader by early May.
If elected, Banga will replace former President Trump appointee David Malpass, who announced last week that he will step down on June 30.