WASHINGTON, D.C.: The United States is nominating former Mastercard chief executive officer Ajay Banga to lead the World Bank, President Joe Biden announced on Thursday, crediting him with critical experience on global challenges including climate change. He is the first Indian-born nominee to the World Bank president role. The United States has traditionally picked the World Bank chief. The World Bank has promised to conduct "an open, merit-based and transparent selection process," and said it would accept nominations through March 29. The bank is under pressure to expand its mandate — an effort that likely would require the next president to convince donor countries to provide more money.

Source: Manila Times February 25, 2023 04:09 UTC