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AP National Business

US nominates Ajay Banga for World Bank president

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Published 8:00 AM

By FATIMA HUSSEIN and PAUL WISEMAN
Associated Press

WASHINGTON (AP) — The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank. President Joe Biden announced the choice on Thursday, crediting Banga with critical experience on global challenges including climate change. The news comes days after Trump appointee David Malpass announced plans to step down in June from his role leading the 189-nation poverty reduction agency. Malpass ran into criticism last year for comments seeming to cast doubt on the science that says the burning of fossil fuels causes global warming. Malpass later apologized. Biden’s climate envoy, John Kerry, says Banga is “the right choice” for the World Bank role.

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