Ajay Banga set to be next President of World Bank

World Bank confirmed that Indian origin Ajay Banga will be the next President of the World Bank. The World Bank’s 25-member executive board elected him to a five-year term as president.

Banga, 63, former CEO of Mastercard was nominated for the post by United States President Joe Biden in late February. He was the sole contender to replace departing World Bank chief David Malpass, an economist and former US Treasury official who served in the Trump administration.

Ajay Banga will assume the charge of President, World Bank on June 2.

World Bank board members interviewed Mr Baga on 1st May 2023 and he was elected in a vote by 24 out of 25 board members, with Russia abstaining.

Question: Who has been confirmed as the next President of the World Bank?
a) David Malpass
b) Ajay Banga
c) Joe Biden
d) Nirmala Sitaraman

Answer: b) Ajay Banga

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