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May 3, 2023 8:30 PM - The Canadian Press

Ajay Banga confirmed as next World Bank president

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Ajay Banga will be the first person from the Indian-American and American Sikh community to head the World Bank. (Photo: Ajay Banga's Facebook Profile)

Former MasterCard CEO Ajay Banga will be the next president of the World Bank.

The 25-member executive board of the World Bank on Wednesday elected Ajay Banga as president for a five-year term, who will assume his post from June 2.

Ajay Banga will be the first person from the Indian-American and American Sikh community to head the World Bank.

Banga was nominated for the post by US President Joe Biden in late February.

Biden had said that Ajay Banga is the most qualified person to lead this global organization.

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