US President Joe Biden has nominated Ajay Bangu, a businessman of Indian origin, the former head of the Mastercard payment system, to the post of head of the World Bank. This was stated on February 23 in a message on site White House.

As noted by the US administration, Banga has extensive experience in leading successful organizations in developing countries and building public-private partnerships to solve problems of financial inclusion.

“Ajay is uniquely positioned to lead the World Bank at this critical time in history. He has spent more than three decades building and managing successful global companies that create jobs and bring investment to developing countries, and has led organizations through periods of fundamental change,” Biden said.

The White House noted that the candidate has experience in mobilizing public and private resources to solve the most pressing problems of our time.

“Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious program to reduce poverty and increase prosperity,” the White House added.

Banga has dozens of awards from financial departments, organizations and governments of several states.

Earlier, on February 15, it became known that the head of the World Bank, David Malpass, announced his intention to leave his post in the coming months. The reasons for the decision were not named.