Without much of a surprise, being the only candidate running, Indian American Ajay Banga was elected president of the World Bank (WB), the institution announced in a press release, at the end of a board meeting. .
The United States candidate, 63-year-old business leader, American-Indian has assured, on several occasions, that he wants to give priority, during his mandate, to financing the fight against global warming and country reform. BM. He is expected to take office for a five-year term on June 2, the World Bank said.
Traditionally, the World Bank has been the reserve of the United States, whose citizens have always led the Bank since its creation, after the Bretton Woods agreement in 1944. But this hegemony is increasingly being challenged, especially by large developing countries. , led by Brazil, China, India and Russia, which for several years have wanted to see their place in international financial institutions strengthened.
Amid rising geopolitical tensions, the US decision to nominate Ajay Banga, who was born and raised in India, is not a trivial one, as the US tries to get closer to other Asian giants to counter Chinese influence in the region.
Immediately after being sworn in, Ajay Banga embarked on a world tour, aiming to promote his candidacy and gain support from as many countries as possible, particularly developing and developing countries. As such, he can count on India, Kenya and even South Africa, who support his candidacy. But that’s not all, because Ajay Banga can also count on support from a number of French-speaking countries
