At the conclusion of his worldwide trip, US candidate for World Bank President Ajay Banga will meet with PM Modi

At the conclusion of his worldwide trip, US candidate for World Bank President Ajay Banga will meet with PM Modi

Ajay Banga, the US candidate for president of the World Bank, will touch down in India on Thursday to conclude a three-week global listening tour that started in Africa and went on to include stops in Europe, Latin America, and Asia. Banga will meet with Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and Minister of Foreign Affairs S. Jaishankar during his two-day visit to New Delhi from March 23 to 24.

"When in India, Banga will meet with Prime Minister Narendra Modi as well as the minister of finance Nirmala Sitharaman and the Minister of Foreign Affairs S Jaishankar. The World Bank, India's development goals, and problems with global economic growth would be the main topics of discussion "In a statement, the US Treasury Department stated.

Banga will also stop by the Learnet Institute of Skills, a network of technical schools founded in partnership with the National Skills Development Corporation and partially supported by the World Bank. In order to better understand how the Institute's program is enhancing the lives and economic possibilities of participants, especially young people, he will learn about it and meet with staff, alumni, program participants, and business sector partners.

"Shortly after his nomination was announced, the Indian government approved Banga's candidacy. Since then, a broad coalition of states, including Bangladesh, Colombia, Egypt, France, Germany, Ghana, Italy, Japan, Kenya, Saudi Arabia, the Republic of Korea, and the United Kingdom, have declared their support for Banga," the statement stated.

According to the US Treasury Department, Banga spoke with top government officials, stakeholders, corporate executives, entrepreneurs, and members of civil society on his international listening tour. According to the statement, he has steadily gained support for his candidacy along the road from activists, academics, development specialists, business leaders, Nobel laureates, and previous government officials.

The statement said, "If chosen to serve, Banga would rely on his experience living and working in developing economies and his skill in establishing public-private partnerships to mobilize investments and action to address long-standing concerns. It includes his work at Mastercard, where he was successful in bringing 50 million small companies online and bringing 500 million previously unbanked individuals into the digital economy.

Days after Donald Trump chose David Malpass to the role and he resigned, US President Joe Biden proposed former Mastercard CEO Banga to lead the World Bank. Because of his extensive background tackling global concerns like climate change, Banga was picked by the US government.

In April 2024, David Malpass' five-year tenure was supposed to come to an end. The early retirement of David Malpass from the 189-nation organization, which primarily seeks to reduce poverty, was seen as an opportunity for the USA to select a head who can direct the organization for the development of less developed countries. The financial organization would focus on the same goal as the US government, which has declared combating the consequences of climate change a primary priority.

Currently, General Atlantic's vice chairman is Ajay Banga. He has more than 30 years of business experience and holds multiple roles at Mastercard in addition to being on the boards of Dow Corporation, Kraft Foods, and the American Red Cross.

He is significant since he is the first person of Indian descent to be proposed as the next president of the World Bank. Joe Biden asserts that Ajay Banga is the only individual who has shown confidence in his capacity to lead who is now eligible to manage the World Bank. According to Biden, Ajay has considerable experience fusing public and private resources to tackle the most urgent problems.