A nomination process has started, with the bank saying women candidates would be “strongly” encouraged. Read more at straitstimes.com.
WASHINGTON - US President Joe Biden said on Thursday that Washington is nominating former Mastercard chief executive Ajay Banga to lead the World Bank, after its current chiefThe development lender has just started accepting candidate nominations in a process set to run until March 29, with the bank saying women candidates would be “strongly” encouraged.
The president of the World Bank is typically American, while the head of the International Monetary Fund is customarily European. Mr Banga, 63, is Indian-American and currently serving as vice-chairman at equity firm General Atlantic.Mr Banga has “critical experience mobilising public-private resources to tackle the most urgent challenges of our time, including climate change,” said Mr Biden in a statement.and address global problems like environmental issues more effectively.
US Treasury Secretary Janet Yellen earlier said that lenders’ core models, where countries borrow to make specific investments addressing developmental constraints, is “insufficient to meet the moment”.
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