US candidate Ajay Banga sole nominee to lead World Bank

The World Bank confirmed Thursday that Ajay Banga, the American nominee to head the organization, was the only candidate who had submitted a nomination, clearing the way for his upcoming appointment.

The executive directors will perform a formal interview with the candidate in Washington, DC, in accordance with established procedures, the bank said in a statement. “We expect to conclude the presidential selection in due course.”

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The International Monetary Fund has traditionally been led by a European, while the Washington-based development lender has historically been presided over by the United States under an unwritten agreement. Banga, 63, a naturalized US resident who was born in India.

Last month, President Joe Biden revealed his selection to succeed David Malpass, who is leaving office early due to concerns about his stance on climate change.

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