US nominee for World Bank President Ajay Banga to meet PM Modi, S Jaishankar

US nominee for World Bank President Ajay Banga to meet PM Modi, S Jaishankar

These discussions will focus on India's development priorities, the World Bank, and global economic development challenges.

FPJ Web DeskUpdated: Thursday, March 23, 2023, 12:31 PM IST
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US nominee for World Bank President Ajay Banga to meet PM Modi, S Jaishankar | Image: Wikipedia

The US nominee for World Bank President Ajay Banga is on a two-day visit to India where he is scheduled to meet Prime Minister Narendra Modi, Foreign Minister S Jaishankar and finance minister Niramala Sitharaman, among others to discuss India's development priorities and global economic development challenges.

Banga's New Delhi visit on March 23 and March 24) will be the final stop on his three-week global tour that began in Africa before progressing to Europe, Latin America and Asia. In the 'global listening tour' he talked with the countries to gather support and discuss issues of the World Bank.

"While in India, Banga will meet with Prime Minister Narendra Modi as well as the minister of finance Nirmala Sitharaman and the minister of external affairs S Jaishankar. These discussions will focus on India's development priorities, the World Bank, and global economic development challenges," US Treasury Department said in a statement.

Banga to visit Learnet Institute of Skills

Additionally, it said, Banga will visit the Learnet Institute of Skills, which is a network of vocational institutes established in collaboration with the National Skills Development Corporation, funded in part by the World Bank.

Banga will learn about the Institute's programme and meet with programme participants, staff, alumni, and private sector partners to discuss how it is improving the lives and economic opportunities of participants - particularly young people.

Indian Government supports Banga's candidacy

India's government endorsed Banga's candidacy soon after his nomination was announced, it said, adding, since then, a diverse coalition of governments have expressed their support for Banga, including Bangladesh, Colombia, Egypt, France, Germany, Ghana, Italy, Japan, Kenya, Saudi Arabia, the Republic of Korea, and the United Kingdom.

During his global listening tour, Banga has met with senior government officials, stakeholders, business leaders, entrepreneurs, and civil society, it said.

Along the way, he has built continuous momentum for his candidacy, gaining the support of advocates, academics, development experts, executives, Nobel laureates, and former government officials, it said.

US President Joe Biden had nominated Banga to replace David Malpass, who announced his resignation months after being surrounded in controversy. Banga is currently the vice chair of General Atlantic, a private US equity firm. He retired from Mastercard Inc in December 2021, 12 years after his joining the company.

If elected to serve, Banga will draw from his experience living and working in emerging markets and his expertise in forging public-private partnerships to mobilise investments and action to confront long standing challenges, it added.

That includes his efforts at Mastercard to successfully bring 500 million previously unbanked people into the digital economy, as well as its support for 50 million small businesses.

With inputs from PTI

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