The Biden administration has nominated former Mastercard CEO Ajay Banga to fill the position of World Bank president, days after former president David Malpass stepped down.
The nomination begins the bank's confirmation process that is expected to conclude around May. The position of president has traditionally been filled by a US citizen chosen by the US government, and it is not clear if another country will nominate a candidate. The deadline for nominations is 29 March. Banga is currently vice chair of private equity firm General Atlantic, having headed Mastercard for more than a decade until his resignation in 2021. The move from Biden has been met with disappointment from climate activists, who had called for the US president to put forward a cand...
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