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Global leaders welcome nomination of Ajay Banga as World Bank president

Political leaders and trade captains on February 24 hailed Indian American Ajay Banga’s nomination as World Bank president, pronouncing he’s an impressed selection and a good looking addition to the listing of Indian-origin leaders on the helm of worldwide impactful organisations.

President Joe Biden on Thursday introduced that the U.S. is nominating Mr. Banga to steer the World Bank, pronouncing the industry chief is uniquely supplied to steer the worldwide establishment at “this essential second in historical past”.

Applauding the verdict, U.S. Treasury Secretary Janet Yellen mentioned Banga has the precise management and control talents, enjoy in rising markets, and fiscal experience to steer the World Bank at a essential second in its historical past.

In a tweet, Kristalina Georgieva, Managing Director, IMF mentioned, “Satisfied to listen to that Ajay Banga, who I’ve identified for lots of yrs, has been nominated as a candidate to steer World Bank. His exec management talents & power for innovation are widely recognized. However much more so I love his dedication to sustainable devt, to do just right & assist the ones maximum in want”.

Mr. Banga, 63, these days serves as Vice Chairman at Basic Atlantic. In the past, he was once President and CEO of Mastercard, main the corporate via a strategic, technological and cultural transformation. He was once awarded the Padma Shri in 2016.

Michael Miebach, CEO Mastercard mentioned Mr. Banga is an impressed selection to steer the World Bank.

“He is a mentor, pal and first-rate chief who has labored tirelessly to carry masses of thousands and thousands of folks all over the world into the virtual financial system. He is an individual of serious mind and personality, and we would like him each good fortune within the affirmation procedure and past,” he tweeted.

Marc Benioff, CEO, Salesforce recalled that Banga, right through his stint as CEO of MasterCard, displayed his superb management and at all times served all stakeholders.

“As a member of the B Crew, he motivated different CEOs to at all times do the precise factor! Congrats Ajay!” he mentioned in a tweet.

Mike Bloomberg, entrepreneur, philanthropist and founding father of Bloomberg Information mentioned it was once nice to peer Mr. Banga nominated to steer the World Bank.

“He was once a robust spouse for our management in town corridor and we now have teamed up on different problems since. I am taking a look ahead to operating with him on weather alternate and different the most important international building demanding situations,” he mentioned.

Kiran Mazumdar-Shaw, CEO, Biocon, termed the nomination as a super selection.

Kunal Bahl, Entrepreneur-Investor, Co-founder of Titan Capital, mentioned this could be any other out of the ordinary addition to the listing of Indian beginning leaders on the helm of worldwide impactful organisations. Whether or not it ends up in onerous advantages for India will likely be observed, however there is not any query in regards to the cushy energy it brings to the rustic.

Lauding Mr. Banga’s paintings ethic and experience in international finance, John Chambers, Chairman Emeritus, CISCO mentioned he was once assured that he’s the precise particular person for the process.

Derek O’Brien, Spokesperson, Trinamool Congress tweeted, “What a champion you’re, Ajay Banga…From Kolkata Department Supervisor of @Nestle dreaming up the Maggi Quizzes 3 a long time in the past, to this!”

Over the process his profession, Mr. Banga has turn into an international chief in era, information, monetary services and products and innovating for inclusion. He’s the honorary chairman of the World Chamber of Trade, serving as chairman from 2020-2022. He’s additionally chairman of Exor and impartial director at Temasek.

He changed into an consultant to Basic Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. He prior to now served at the Forums of the American Purple Pass, Kraft Meals and Dow Inc.

Mr. Banga, who has labored intently with Vice President Kamala Harris because the Co-Chair of the Partnership for Central The us, is a member of the Trilateral Fee, a founding trustee of the U.S.-India Strategic Partnership Discussion board, a former member of the Nationwide Committee on U.S.-China Family members, and Chairman Emeritus of the American India Basis.

He’s a co-founder of The Cyber Readiness Institute, Vice Chair of the Financial Membership of New York and served as a member of President Barack Obama’s Fee on Bettering Nationwide Cybersecurity. He’s a previous member of the U.S. President’s Advisory Committee for Industry Coverage and Negotiations.

He was once awarded the Overseas Coverage Affiliation Medal in 2012, the Ellis Island Medal of Honour and the Trade Council for World Figuring out’s Global Management Award in 2019, and the Prominent Pals of Singapore Public Provider Celebrity in 2021.

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