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


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.

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.

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.

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 

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

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.

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.

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

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

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.