Last Updated: March 30, 2023, 10:05 IST
Washington, United States
US’ candidate to head the World Bank, Ajay Banga, speaks during an interview in Nairobi on March 8, 2023. (AFP)
World Bank, however, rules allow member nations to make nominations during the window that closed on Wednesday without making them public
Ajay Banga, the US nominee to lead the World Bank, appears almost certain to become the lender’s next president after the nominations closed on Wednesday with no other country proposing an alternate candidate.
US President Joe Biden had nominated Banga, 63, in February to replace David Malpass, who announced his resignation after months of controversy over his initial failure to say he backed the scientific consensus on climate change.
The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European.
Though no countries besides the US have proposed any candidates, the bank rules allow member nations to make nominations during the window that closed on Wednesday afternoon without making them public, according to Bloomberg.
The World Bank had opened the nomination period late last month, saying at the time that its board would conduct formal interviews of the top contenders after nominations closed. It further said that it would close the process to wrap up by early May.
India endorsed the candidacy of Banga, a longtime finance and development executive who is now a US citizen, soon after his nomination was announced in late February.
He has won the support of enough other governments to virtually assure his confirmation as the next World Bank president, including Britain, France, Germany, Italy, Japan, Bangladesh, Colombia, Egypt, Ivory Coast, Kenya, Saudi Arabia and South Korea.
Over the past month, Banga has met with government officials, civil society groups, business leaders and other stakeholders on a “global listening tour” that started in Africa before progressing to Europe, Latin America and Asia.
He was supposed to meet Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and the minister of external affairs S Jaishankar. However, he was tested positive for Covid-19 last week.
Banga, 63, is Indian-American and has more than 30 years of business experience, having served in various roles at Mastercard and the boards of the American Red Cross, Kraft Foods and Dow Inc. He is the first Indian-born nominee to the World Bank president role.
World Bank’s current President Malpass ran into criticism last year for seeming, in comments at a conference, to cast doubt on the science that says the burning of fossil fuels causes global warming. He later apologized and said he had misspoken, noting that the bank routinely relies on climate science.
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