Unopposed, Ajay Banga is set to take over as World Bank president

Ajay Banga, an Indian-American businessman, is in line to succeed David R. Malpass as 14th President of the World Bank, the organization announced. No other applicants have been put forward for the position. Before he is formally appointed, Banga will be interviewed by the World Bank's Board of Executive Directors.

The last date to submit nominations for the post of World Bank's President closed on March 29. By this date, the board had only received one nomination i.,e. of Banga.

Banga may stand a good shot at becoming the World Bank's President as the only person nominated for the post, the board will confirm his seat post an interview that is scheduled to happen in Washington DC. The dates of the same have not been announced yet.

Raised in India, now a US citizen Banga has three decades of experience. Banga served as CEO of Mastercard for over a decade and currently, Banga serves as Vice Chairman at General Atlantic.

In a statement released by the White House upon his nomination President Joe Biden said "Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity."