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Dhaka endorses US nominated Ajay Banga to lead WB

Published : 08 Mar 2023 10:07 PM

Bangladesh endorses the United States' nominee Ajay Banga for the position of President of the World Bank Group.

The foreign ministry said in the context of the “long standing friendship and cooperation” between Bangladesh and the United States of America, the government endorsed Washington's nominee.

“Bangladesh believes that Mr. Banga’s vast experience would positively contribute to the works and the future of the World Bank Group.”

“The World Bank plays a critical role in the socio-economic development of many developing countries, including Bangladesh,” said a statement.

“Bangladesh looks forward to working closely with Mr. Banga as the future President of the World Bank Group, with a view to further taking forward the mutual cooperation between Bangladesh and the World Bank, as well as to enhance World Bank’s contribution at the global level.”

 Ajay Banga is the former longtime chief executive of Mastercard.

 According to the New York Times, the nomination will initiate a monthslong confirmation process before a final decision by the World Bank’s board. It is not clear if any other countries will nominate a candidate.

 But the World Bank president is traditionally an American citizen chosen by the United States.

 If confirmed, Banga will bring vast experience running large organisations and deep knowledge of the digital economy.

 Raised in India, he would bring a firsthand understanding of the challenges that developing countries face, according to the New York Times.

 “Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” President Joe Biden said in a statement, while nominating him.

 “He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change.”