The news agency said that 63-year-old Ajay Banga was the only candidate for the presidency of the World Bank.
Washington DC: An Indian-American businessman Ajaypal Singh Banga has been elected as the 14th president of the World Bank.
In a statement issued by the World Bank, it has been stated that the bank's 25-member executive board has approved the new president.
According to the announcement, Ajaypal Singh will assume the post of World Bank president for five years on June 2, while the current president, David Malpass, is resigning from his post soon.
The news agency said that 63-year-old Ajay Banga was the only candidate for the presidency of the World Bank.
Notable, Indian-American businessman Banga was nominated by US President Joe Biden and is the first-ever Indian-American to head the bank. President called him "a transformative leader" who had the experience to run the World Bank.
Americans spend less of their income on food than almost ever. Why doesn’t it feel that way?
- 12 hours ago
Usman Tariq confident Pakistan can bounce back after India drubbing in T20 World Cup
- 3 hours ago
US and Iran begin nuclear talks in Geneva as threat of war looms, Khamenei warns Trump
- 2 hours ago
Gold prices decline in Pakistan, global markets
- 4 hours ago
Arsenal stun Man City to boost their UWCL hopes and keep WSL title race alive
- 13 hours ago
Australia, Ireland out of T20 World Cup as Zimbabwe qualify after washout
- 42 minutes ago
FMs condemn Israeli decision to designate lands in Occupied West Bank as so-called ‘state land’
- 4 hours ago
11 security officials martyred, 12 terrorists neutralised in Bajaur assault: ISPR
- 4 hours ago
Tarique Rahman sworn in as Bangladesh’s PM after landslide election victory
- 2 hours ago
Woke isn’t dead. Bad Bunny’s halftime show proved it.
- 12 hours ago
France’s extremely talented and extremely controversial ice dancers, explained
- 12 hours ago
UNESCO awards Pakistan’s first ever peace education chair to Prof. Dr. Hussain Mohi-ud-Din Qadri
- 2 hours ago
