US Nominee For World Bank Ajay Banga To Visit India, Meet PM Narendra Modi

Banga will meet with Prime Minister Narendra Modi as well as the Minister of Finance Nirmala Sitharaman and the Minister of External Affairs Subrahmanyam Jaishankar during this visit

US President Joe Biden has nominated former MasterCard chief executive Ajay Banga to lead the World Bank after its current chief David Malpass announced plans to step down early.

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The US nominee for World Bank President Ajay Banga will visit New Delhi, India on March 23 and 24, for the final leg of his three-week global tour, said the US Department of the Treasury on Wednesday. Banga will meet with Prime Minister Narendra Modi as well as the Minister of Finance Nirmala Sitharaman and the Minister of External Affairs Subrahmanyam Jaishankar.

A release by the US Treasury department said, "The US nominee for World Bank President Ajay Banga will visit New Delhi, India on March 23 and 24, capping a three-week global listening tour that began in Africa before progressing to Europe, Latin America, and Asia. While in India, Banga will meet with Prime Minister Narendra Modi as well as the Minister of Finance Nirmala Sitharaman and the Minister of External Affairs Subrahmanyam Jaishankar. These discussions will focus on India’s development priorities, the World Bank, and global economic development challenges."

"During his global listening tour, Banga has met with senior government officials, stakeholders, business leaders, entrepreneurs, and civil society. Along the way, he has built continuous momentum for his candidacy, gaining the support of advocates, academics, development experts, executives, Nobel Laureates, and former government officials," the US Treasury department added.  

US President Joe Biden has nominated former MasterCard chief executive Ajay Banga to lead the World Bank after its current chief David Malpass announced plans to step down early.

Indian-American business leader Ajay Banga, 63, is currently serving as the vice-chairman at equity firm General Atlantic. He was previously the chief executive officer at MasterCard.

According to the Treasury Department statement, while in India, Banga will also visit the Learnet Institute of Skills, which is a network of vocational institutes established in collaboration with the National Skills Development Corporation, funded in part by the World Bank. The statement said, "Banga will learn about the Institute’s program and meet with program participants, staff, alumni, and private sector partners to discuss how it is improving the lives and economic opportunities of participants – particularly young people."

Indian government endorsed Banga’s candidacy. The governments of Bangladesh, Côte d’Ivoire, Colombia, Egypt, France, Germany, Ghana, Italy, Japan, Kenya, Saudi Arabia, South Korea, United Kingdom have also expressed their support for Banga.