CAPAC Chair Statement on Ajay Banga's Appointment to World Bank President

WASHINGTON, D.C. – Recently, President Biden announced the nomination of Ajay Banga to be the President of the World Bank. As the largest shareholder, the United States appoints the President of World Bank for a term of 5 years. The nominee is then approved by the Board of Directors.

CAPAC Chair Rep. Judy Chu (CA-28) issued the following statement:

“Ajay Banga is a superb selection to lead the World Bank and I congratulate him on this historic nomination. Mr. Banga is a highly capable and qualified individual who has an extensive amount of experience building and guiding successful, global companies that create jobs and bring investment to developing economies. His proven track record will allow him to successfully lead the World Bank in reducing poverty and increasing prosperity. Mr. Banga is the first Sikh American nominated to role, and we are grateful to President Biden for continuing to deliver on his promise to appoint individuals who reflect our nation’s diversity.”