Indian American Ajay Banga on Friday took over as the President of the World Bank, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund. On May 3, the Executive Directors of the World Bank selected Banga, 63, as the 14th President of the World Bank for a five-year term.
Prior to assuming his new role, Banga met with US Treasury Secretary Yellen, who expressed her warm welcome and strong desire for close collaboration, , ajay banga, world bank
Indian American Ajay Banga becomes the first person of colour to head the World Bank, succeeding David Malpass. Banga previously served as Vice Chairman at General Atlantic and was President and CEO of Mastercard.
This appointment makes Banga the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund.
Indian-origin man in the United States of America Ajay Banga becomes the 14th president of the World Bank. He also becomes the first-ever Indian American to head the institution.