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Former Mastercard CEO Ajay Banga has been elected as the new president of the World Bank, TASS reports citing the press service of the World Bank.
According to the rules, the new head of the WB will stay in office for five years, officially taking office on June 2, 2023.
Ajay Banga will be the 14th president of the World Bank, established in 1944. He will head all organizations of the WB group, including the International Bank for Reconstruction and Development.
Traditionally, this post has always been headed by Americans, and Banga was no exception. The current head of the World Bank, David Malpas, announced back in February that he wanted to leave this post by the end of June this year.