Ajay Banga: Indian-Origin Businessman Nominated To Head World Bank!

WRITTEN BY Abirath EV

Banga is the first Indian World Bank president nominee. He would succeed David Malpass, a Trump appointee who announced his June resignation weeks ago.

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Banga has more than 30 years of commercial expertise, including stints at Mastercard and the boards of the American Red Cross, Kraft Foods, and Dow Inc.

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Mastercard CEO for 12 years, he retired in December 2021. By 2025, Banga aimed to digitally connect 1 billion individuals and 50 million micro and small companies.

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Banga worked closely with US Vice President Kamala Harris to mobilize public as co-chair of Partnership for Central America and non-profit resources for Northern Central America

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Banga has extensive US government experience. Obama appointed him to the President's Advisory Council for Trade Policy and Negotiations in February 2015.

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Indian-born Banga is now an American citizen. Pune, Maharashtra, was his birthplace. His father, Lieutenant General Harbhajan Singh Banga, retired from the Indian Army.

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Banga earned a Bachelor of Arts from New Delhi's Saint Stephen's College and a PGP in Management, equivalent to an MBA, from IIM Ahmedabad.

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Banga has received awards in India and the US. He received the Padma Shri, India's fourth-highest civilian honour, in 2016.

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Banga's World Bank nominee seeks to centre climate change at the 189-nation poverty reduction organisation. Banga often speaks out about climate change.

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He said the Indo-US strategic relationship is the "mahagathbandhan" the world needs in 2019, saying that the "two greatest democracies" can change the world.

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