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Ex-Mastercard CEO Ajay Banga confirmed as World Bank president
Former Mastercard CEO Ajay Banga was confirmed Wednesday to serve as the 14th president of the World Bank and is set to begin his five-year term at the institution's helm next month.
Banga, 63, was nominated to the role by President Joe Biden in February and will succeed David Malpass as president of the World Bank. Malpass was tapped for the role by former President Donald Trump and announced earlier this year he planned to step down roughly one year early.
Mr. Biden extended congratulations to Banga for his "resounding approval" by the World Bank's board of governors and predicted he would be a "transformative leader."
At: https://www.cbsnews.com/news/ex-mastercard-ceo-ajay-banga-world-bank-president/
Incoming World Bank President Ajay Banga, and his wife Ritu.
Banga, who headed the Partnership for Central America and served as an adviser on the region to Vice President Kamala Harris, has reaped criticism for his close ties to Wall Street.
Treasury Secretary Yellen noted, however, that "there's broad agreement that we need to mobilize private capital."
"This is an individual who has a better chance of being able to accomplish that than anyone else I can honestly think of."
