The World Bank has announced that Indian-American business executive, Ajay Banga, will be appointed to replace David Malpass, the President of the global financial institution.
Banga, who is a former Mastercard Inc. Chief and currently serves as the vice chairman at General Atlantic, was selected for the position as he was the only nominee for the post, World Bank disclosed on Friday.
The United States nominated Banga, while Nigeria and the remaining 182 countries, which are members of the World Bank, didn’t provide any nominee.
