US nominee Ajay Banga to face World Bank board interview in early May, according to sources

According to two sources with knowledge of the matter, the executive board of the World Bank will conduct a formal interview with Ajay Banga, who has been nominated by the United States to succeed David Malpass as the president of the multilateral development bank.

The interview is scheduled to take place in early May.

Sources, who spoke on the condition of anonymity, reported that David Malpass informed the board on Tuesday about his plan to leave the position of the president of the World Bank, with his last day being June 1.

On Tuesday, U.S. Treasury Secretary Janet Yellen discussed with Indian Finance Minister Nirmala Sitharaman the critical need for the World Bank to have the appropriate leadership.

Yellen, who has been a vocal advocate for reforms aimed at freeing up funds to support developing nations in addressing climate change, fragility, and other crises, emphasized the significance of leadership in achieving these goals.

According to U.S. Treasury Secretary Janet Yellen, Ajay Banga, the former CEO of Mastercard, possesses the necessary leadership and management skills, background, and financial expertise required to lead the World Bank at a crucial juncture in its history.

“He has a keen understanding of the economic opportunities present in developing countries that will serve him well if he’s selected,” she said at the start of a meeting with Sitharaman.

Last month, the executive board of the World Bank Group announced that it would only consider Ajay Banga as a candidate for the next president of the development lender, as no other individuals had been nominated.

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