U.S. pick for World Bank, Ajay Banga, to meet with PM Modi in India

The U.S. nominee to lead the World Bank, former Mastercard CEO Ajay Banga, 63, returns to India today, capping a three-week global tour to drum up support, plus discuss development and climate needs with donor and borrowing countries.

The Treasury said Banga will visit New Delhi on March 23 and 24. He will meet with Prime Minister Narendra Modi as well as the Minister of Finance, Nirmala Sitharaman, and Minister of External Affairs, S Jaishankar.

“These discussions will focus on India’s development priorities, the World Bank, and global economic development challenges,” the Treasury said in a statement.

India’s government endorsed the candidacy of Banga, a longtime finance and development executive who is now a U.S. citizen, soon after his nomination was announced in late February.

He has won the support of enough other governments to virtually assure his confirmation as the next World Bank president, including Britain, France, Germany, Italy, Japan, Bangladesh, Colombia, Egypt, Ivory Coast, Kenya, Saudi Arabia and South Korea.

The World Bank will accept nominations from other countries until March 29, but no competitors have been announced so far.

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