US nominee for top World Bank job gets positive reviews at G20 meeting

February 25, 2023 1:25 pm

[Source: Reuters]

The U.S. nominee to lead the World Bank, ex-Mastercard Chief Executive Ajay Banga, gained traction with leading members on Friday, a sign that he will likely have a smooth ride to confirmation by the global lender’s executive board.

The finance ministers of France and Germany gave positive reviews to Banga, nominated on Thursday by U.S. President Joe Biden as a surprise choice to lead the World Bank’s transformation to fight climate change and other global challenges.

“I think that we have a very good candidate for the World Bank,” French Finance Minister Bruno Le Maire said of Banga during a news conference at the G20 finance leaders meeting in India.

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“I look forward to meeting the candidate to give a final response to this candidacy. But I think he’s a very good one.”

German Finance Minister Christian Lindner said that Banga’s nomination was a “very remarkable” proposal because his private-sector experience would be potentially helpful in mobilizing private investment in the fight against climate change and for development projects.