US President Joe Biden nominated former Mastercard CEO Ajay Banga to lead the World Bank, after its current chief David Malpass announced plans to step down early.
Malpass’ exit comes months after calls grew for him to step down after he declined to acknowledge the scientific consensus that fossil fuels were warming the planet.
Ajay Banga, a business leader with extensive experience leading successful organizations in developing countries and forging public-private partnerships to address financial inclusion and climate change.
