Bangladesh endorses US nominee Ajay Banga

GBNEWS24DESK//

Bangladesh has endorsed the US nominee Ajay Banga for the position of World Bank Group President, in the context of the long-standing friendship and cooperation between Bangladesh and the US.

“Bangladesh believes that Mr Banga’s vast experience would positively contribute to the works and the future of the World Bank Group,” said the foreign ministry in a statement today.

The World Bank plays a critical role in the socioeconomic development of many developing countries, including Bangladesh.

Bangladesh looks forward to working closely with Banga as the future president of the World Bank Group, to further take forward the cooperation between Bangladesh and the World Bank.

Indian-American executive Ajay Banga has been nominated by US President Joe Biden to become the new President of the World Bank. His election to the position will be a mere formality since the presidency has traditionally been held by the United States.

All 13 presidents of the World Bank so far have been US citizens; the only exception being Bulgarian national Kristalina Georgieva, who served as the acting president in 2019.

Following confirmation by the board, the new president is likely to be in place by early May 2023.