World Bank Unanimously Elects Ajay Banga as President

The World Bank board approved Ajay Banga as President for a five-year term beginning June 2.
Banga is an Indian-born US citizen and finance expert selected to revamp the World Bank to address climate change and crises.
Banga met with officials from 96 countries since his nomination for the role by US President Joe Biden.
Russia abstained, but Banga received unanimous approval from the other 24 board members.
Banga succeeds David Malpass and faces high expectations to reform World Bank lending, funding, and priorities like poverty and climate change.