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Former Mastercard CEO Ajay Banga nominated as President of World Bank by US President Joe Biden

Ajay Banga, an Indian-American, praised for his business background and climate change efforts, nominated for World Bank presidency

24-02-2023 : Former Mastercard CEO Ajay Banga has been nominated by US President Joe Biden to become the next president of the World Bank. Biden praised Banga’s business background in India and his commitment to securing private funding to help developing countries tackle climate change.

As vice chairman at equity firm General Atlantic, Banga has strong ties to developing markets and would oversee billions of dollars in funding if appointed. Born in Pune, he received a B.A. in economics from St. Stephen’s College, Delhi University, and an MBA from the Indian Institute of Management, Ahmedabad. Banga worked for Nestle and Pepsico before joining Citigroup, where he served in various positions including CEO of its Asia-Pacific region and a member of Citi’s senior leadership and executive committees.

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