World Bank board will interview US candidate Banga in early May, sources say IG News

Washington: The World Bank’s executive board will hold a formal interview in early May with Ajay Banga, the American nominee to succeed him as president of the multilateral development bank, two sources familiar with the matter said on Tuesday.

Malpass informed the board on Tuesday that his last day would be June 1, the sources said on condition of anonymity.

US Treasury Secretary Janet Yellen, who has promoted reforms at the World Bank to help developing countries deal with climate change, fragility and other crises, told Indian Finance Minister Nirmala Sitharaman on Tuesday that it was important to have the right leadership at the bank. Was.

Biden nominates former Mastercard chief Banga to head World Bank

Banga, the former chief executive of Mastercard, has “the right leadership and management skills, background and financial expertise to lead the World Bank at a critical moment in history.”

“She has a keen understanding of the economic opportunities that exist in developing countries, which will serve her well if she is elected,” he said at the start of the meeting with Sitharaman.

The World Bank Group’s executive board said last month that it would only consider Banga as the development lender’s next president, as no other candidate had been named.