The World Bank has announced that Ajay Banga will be its next president, taking over from David Malpass on June 2, 2023.
Banga, who has been appointed for a five-year term, will lead the development lender during a critical time as it seeks to improve its response to climate change.
After a board vote, the World Bank expressed confidence in Banga's leadership and released a statement stating its high hopes for his tenure.