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.
Fares of Peoples Bus Service increased
- 2 hours ago
Why Patrick Bateman endures
- 6 hours ago
First Pakistani player to participate in FIFA Club WC
- 4 hours ago
China announces retaliatory tariffs on US
- an hour ago
30 more bunkers demolished in Kurram
- 18 minutes ago
Woman allegedly commits suicide by jumping off Lahore hospital building
- 3 hours ago
First time female police officer appointed as manager of Pakistan men's cricket team
- an hour ago
Pakistan Railways once again rises passenger train fares
- an hour ago
PIA to resume privatization process
- 4 hours ago
PTI leader Azam Swati released from Attock Jail
- 4 hours ago
Trump's tariffs on Mexico, Canada postponed, hints at talks with China
- 3 hours ago
Gas cylinder explosion in Pishin hospital, seven injured
- 15 minutes ago
