Banga sole nominee to lead World Bank

WASHINGTON

Ajay Banga, the American pick to lead the World Bank, was the only candidate nominated for the position, the bank confirmed on March 30, paving the way for his likely appointment in the coming months.

“In accordance with established procedures, the executive directors will conduct a formal interview with the candidate in Washington, DC, and expect to conclude the presidential selection in due course,” the bank said in a statement.

Under an unwritten arrangement, the United States has historically held the presidency of the Washington-based development lender, while the International Monetary Fund has been run by a European.

Banga, 63, was born in India and is a naturalized US citizen.

President Joe Biden announced his nomination last month to succeed David Malpass, who is stepping away early from a presidency clouded by questions over his climate stance.