Bawumia extends his congratulations to the new World Bank President.
Mr. Biden nominated former MasterCard CEO David Malpass to be the World Bank's president on Thursday.
President Biden praised his business experience in India as well as his commitment to mobilizing private funds to expand financial inclusion and assist developing countries in dealing with climate change.
Vice President Dr Mahaumdu Bawumia stated in a series of tweets that his vast and rich experience in the private sector, as well as his passion for all things digital, make him an appropriate and exciting choice for developing countries in general, and African countries in particular.
"Congratulations to Ajay Banga on his nomination as the next President of the World Bank by President Joe Biden. Born and raised in India, Mr. Banga is very familiar with the issues facing developing nations.
“His vast and rich experience in the private sector and his passion for all things digital make him an appropriate and exciting choice for developing countries in general and African countries in particular. Congratulations to you Mr. Ajay Banga,” Dr Bawumia stressed.
Biden’s nomination of Banga, 63, now a U.S. citizen, all but assures he will assume a job that oversees billions of dollars of funding, putting someone with close ties to emerging markets at the helm of the bank as it races to better help developing countries address climate change and other pressing challenges.
“Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” Biden said in a statement. “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.”
Biden cited Banga's decades of experience building global companies and public-private partnerships to address pressing issues such as climate change, and said he had a proven track record working with global leaders.
Banga's work in India and other emerging markets, his "obsession" with expanding financial inclusion, and his deep knowledge of new technologies, according to Luis Alberto Moreno, former president of the Inter-American Development Bank, could help bridge the growing divide between rich and developing countries.
"He can truly be a force for change," Moreno said, noting that Banga had the trust of financial markets, whose assistance was desperately needed to help raise the trillions of dollars required to address global challenges.
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