US President Joe Biden lauds Ajay Banga's selection as World Bank President, Indian Finance Minister congratulates via tweet

As India stands out among global economies with resilience against recession and inflation, Ajay Banga has made history as the first Indian-origin man to become World Bank President. The former Mastercard CEO, who has also worked at PepsiCo, was US President Joe Biden's nominee for the position and has won unopposed.

Following Banga's selection by executive directors of the World Bank, Biden has called him a transformative leader, who will bring expertise and innovation to the organisation.

Lauded Banga's track record

• Calling Banga's election a critical moment in history, Biden expressed confidence in his ability to steer World Bank towards addressing challenges such as poverty and climate change.

• As opposed to Banga, his predecessor David Malpass who was former US President Donald Trump's pick, was criticised for being a climate change denier.

• He also added how the former corporate bigwig Banga will bring public and private sectors together, and add philanthropists to the mix, to achieve shared objectives, based on his track record.

• Biden's deputy and US Vice President Kamala Harris also took to Twitter for congratulating the new World Bank chief, describing him as an amazing partner to work with.

• Apart from top officials in the Biden administration who welcomed Banga's elevation to the post of the anti-poverty body, India's Finance Minister Nirmala Sitharaman also congratulated him with a tweet.

• Banga was also supposed to meet India's Prime Minister Narendra Modi as well as Sitharaman during a visit to the country in March, but tested Covid positive just before that.