Current Context: US President Joe Biden has nominated former Mastercard CEO Ajay Banga to become president of the World Bank. Banga is an Indian-American businessman who has led Mastercard since 2010 and stepped down as CEO in 2021.
- He has been praised for his business experience in India and his commitment to mobilizing private funds to help developing countries deal with climate change.
- He has also been conferred with India's fourth highest civilian honour Padma Shri in 2016.
- He will replace David Malpass, who announced plans to step down early after serving as World Bank president since 2019.
- Supporting Africa's development and integration into the world economy.
- Targeting the people left behind by poverty, inequality and conflict.
- Helping middle income developing countries make the right development choices.
- Mainstreaming work on global public goods such as climate change, health and security.
- Engaging actively with other players who finance development such as private sector, civil society and multilateral institutions.
- Dealing with the World Bank's financial constraints and capital structure issues.
- Leading the debate on development pathways for the 21st century.
Question:
Q.1 Who is the current chief of the World Bank who announced plans to step down early?a. Jim Yong Kim
b. David Malpass
c. Robert Zoellick
d. Paul Wolfowitz
