President Biden on Thursday nominated Ajay Banga, the former CEO of Mastercard, to be president of the World Bank with an eye towards focusing on climate at the international agency. Biden in a statement noted Banga being raised in India gives him 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.” Banga replaces Trump-era president David Malpass, who stepped down this week amid criticism over seemingly casting doubts about climate change. The White House had intended to nominate a person to lead the monetary agency who was dedicated to fighting clim
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