Indian-American Ajay Banga poised to become World Bank chief unopposed

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which has said he is the sole nominee for the post as no other candidates were nominated.

The World Bank's Board of Executive Directors will interview Mr. Banga before he is formally appointed.

In February, President Joe Biden announced that the U.S. would be nominating Mr. Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.

Mr. Banga is the only application received for the position of president of the World Bank, the financial institution said on Thursday.

“The Board received one nomination and would like to announce that Mr Ajay Banga, a US national, will be considered for the position,” the bank said.

“In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the Presidential selection in due course,” said a statement issued by the bank.

The bank has not announced the timing of the interview.