World News | Biden Nominates Indian-American Ajay Banga for World Bank President

Washington, Feb 23 (PTI) President Joe Biden on Thursday announced that the US is nominating Indian-American business leader Ajay Banga to lead the World Bank.

"Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement.

Also Read | United States Will Continue To Impose Further Sanctions on Russia, Says US Treasury Secretary Janet Yellen.

Banga, 63, currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation.

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

Also Read | Israel: Oman to Allow Israeli Planes Through Its Airspace.

"He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results," Biden said.

Banga was awarded the Padma Shri in 2016.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)