May 03, 2023 09:49 pm | Updated 10:35 pm IST - WashingtonIndian-American business leader Ajay Banga was on May 3 appointed as the next President of the World Bank, which said it looks forward to working with him on the World Bank Group Evolution process. "The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. The former Mastercard Inc. chief, Mr. Banga currently serves as Vice Chairman at General Atlantic. Mr. Banga is the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. He has also worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America.

Source: The Hindu May 04, 2023 07:52 UTC