Lavanya Suresh

he Biden administration named former CEO of Mastercard Ajay Banga as its nominee for the World Bank President on February 23. Banga's nomination is the only official announcement so far and it is not known whether other countries will be nominating their candidates. Given that the US holds the majority of the stake at the World Bank, it is presumed that Ajay Banga will assume the job. I think the speed of the nomination, less than 48 hours after the WB board launched the process, reflects a desire to discourage any challengers and wrap it up quickly. - Scott Morris, a senior fellow at Center for Global Development (Reuters) World Bank's current President David Malpass, nominated by the earlier Donald Trump administration, announced his resignation last week after his controversial views on climate change. The World Bank is set to pick a new President by early May.