Ten things to know about Ajay Banga, the new head of the World Bank

By Yara Rizk

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Posted on July 17, 2023 08:23

World Bank President Ajay Banga
World Bank President Ajay Banga. Lewis Joly/Pool via REUTERS

Appointed head of the international financing institution on 1 June, the man with an atypical profile and sought-after qualities had the backing of the United States. He succeeds David Malpass.

“Ajay Banga has all the qualities needed to lead the World Bank (WB) at this critical time in its history,” says Joe Biden. Before playing a leading role on the international stage, Banga, 63, was a symbol of success in the business world.

He is expected to help reform the World Bank Group and finance the fight against global warming. Who is this outsider, discreetly propelled to the head of one of the main Bretton Woods institutions?

1.  Business

With a career spanning 30 years, this seasoned manager is respected and recognised in the business world. He held a number of senior positions at Citigroup, PepsiCo, and Nestlé, in India, the US, and the Middle East, before serving as CEO of Mastercard for more than 10 years. During his tenure as CEO, he spearheaded the company’s strategy to bring electronic payments to one billion people and 50 million micro and small businesses.

In 2021, he

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