Political leaders and trade captains on February 24 hailed Indian American Ajay Banga’s nomination as World Bank president, saying he’s an impressed selection and an outstanding addition to the record of Indian-origin leaders on the helm of globally impactful organisations.
President Joe Biden on Thursday introduced that the U.S. is nominating Mr. Banga to guide the World Bank, saying the enterprise chief is uniquely outfitted to guide the worldwide establishment at “this critical moment in history”.
Applauding the choice, U.S. Treasury Secretary Janet Yellen mentioned Banga has the suitable management and administration expertise, expertise in rising markets, and monetary experience to guide the World Bank at a crucial second in its historical past.
In a tweet, Kristalina Georgieva, Managing Director, IMF mentioned, “Happy to hear that Ajay Banga, who I have known for many yrs, has been nominated as a candidate to lead World Bank. His exec leadership skills & drive for innovation are well known. But even more so I admire his commitment to sustainable devt, to do good & help those most in need”.
Mr. Banga, 63, presently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, main the corporate by way of a strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016.
Michael Miebach, CEO Mastercard mentioned Mr. Banga is an impressed selection to guide the World Bank.
“He’s a mentor, friend and first-rate leader who has worked tirelessly to bring hundreds of millions of people around the world into the digital economy. He’s a person of great intellect and character, and we wish him every success in the confirmation process and beyond,” he tweeted.
Marc Benioff, CEO, Salesforce recalled that Banga, throughout his stint as CEO of MasterCard, displayed his superb management and all the time served all stakeholders.
“As a member of the B Team, he motivated other CEOs to always do the right thing! Congrats Ajay!” he mentioned in a tweet.
Mike Bloomberg, entrepreneur, philanthropist and founder of Bloomberg News mentioned it was nice to see Mr. Banga nominated to guide the World Bank.
“He was a strong partner for our administration in city hall and we’ve teamed up on other issues since. I’m looking forward to working with him on climate change and other crucial global development challenges,” he mentioned.
Kiran Mazumdar-Shaw, CEO, Biocon, termed the nomination as an incredible selection.
Kunal Bahl, Entrepreneur-Investor, Co-founder of Titan Capital, mentioned this may be one other phenomenal addition to the record of Indian origin leaders on the helm of globally impactful organisations. Whether it results in laborious advantages for India shall be seen, however there isn’t any query in regards to the delicate energy it brings to the nation.
Lauding Mr. Banga’s work ethic and experience in international finance, John Chambers, Chairman Emeritus, CISCO mentioned he was assured that he’s the suitable particular person for the job.
Derek O’Brien, Spokesperson, Trinamool Congress tweeted, “What a champion you are, Ajay Banga…From Kolkata Branch Manager of @Nestle dreaming up the Maggi Quizzes three decades ago, to this!”
Over the course of his profession, Mr. Banga has grow to be a worldwide chief in know-how, information, monetary companies and innovating for inclusion. He is the honorary chairman of the International Chamber of Commerce, serving as chairman from 2020-2022. He can also be chairman of Exor and unbiased director at Temasek.
He grew to become an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. He beforehand served on the Boards of the American Red Cross, Kraft Foods and Dow Inc.
Mr. Banga, who has labored intently with Vice President Kamala Harris as the Co-Chair of the Partnership for Central America, is a member of the Trilateral Commission, a founding trustee of the U.S.-India Strategic Partnership Forum, a former member of the National Committee on U.S.-China Relations, and Chairman Emeritus of the American India Foundation.
He is a co-founder of The Cyber Readiness Institute, Vice Chair of the Economic Club of New York and served as a member of President Barack Obama’s Commission on Enhancing National Cybersecurity. He is a previous member of the U.S. President’s Advisory Committee for Trade Policy and Negotiations.
He was awarded the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honour and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.
