Indian-origin Ajay Banga becomes World Bank chief unopposed
Washington, May 3: Indian-American business leader Ajay Banga was on Wednesday appointed as the next President of the World Bank, which said it looks forward to working with him on the World Bank Group Evolution process.
"The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement.
In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
"The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process, as discussed at the April 2023 Spring Meetings, and on all the World Bank Group's ambitions and efforts aimed at tackling the toughest development challenges facing developing countries," the statement added.
The former Mastercard Inc. chief, Banga currently serves as Vice Chairman at General Atlantic.
Banga is the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.
Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, President Biden had said.
He has also worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America.
He was awarded the Padma Shri in 2016.
Banga is expected to take over the reins of the anti-poverty lender at a crucial time, with the US and Western nations pitching for reforms to focus on addressing a slew of wide-ranging global issues like climate change.
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CPI leader attends RSS-organised Hindu meet, district unit seeks clarification
Manjeshwar: The participation of a CPI leader in a Hindu convention organised by the RSS has triggered discussion in political circles.
Sundari Shetty, former president of Meenja panchayat and a district committee member of the CPI in Kasaragod, attended the Hindu gathering held in Meenja. She offered floral tribute to a portrait of Bharat Mata and also addressed the gathering from the stage, which has led to controversy.
Following the development, the CPI district unit has issued a notice to Sundari Shetty seeking an explanation. Party sources said that the presence of a senior leader of a party that follows communist ideology at a Hindu convention has caused unease within the party.
There are indications that disciplinary action may be initiated against her in connection with the incident.
