Skip to main content

Ajay Banga to Become World Bank Chief Unopposed - Sanjay Pasari

Sanjay Pasari | WASHINGTON: Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." 

sanjay pasari


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. The former Mastercard Inc. chief, Banga currently serves as Vice Chairman at General Atlantic. The bank's board is expected to announce the next steps in its selection process on Thursday, with a view to confirming a new leader by early May.

"Over the next few months, you will see the World Bank undergo an important transition. We expect that Ajay Banga President Biden's nominee will be elected President of the World Bank," US Treasury Secretary Janet Yellen told lawmakers at a Congressional hearing on Wednesday. "He will be charged with accelerating our progress to evolve the institution to better address 21st century challenges. This evolution will help the Bank deliver on its vital poverty alleviation and development goals," Yellen said.

If confirmed, Banga would become the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. Banga is expected to replace the current World Bank president David Malpass, who will step down in June, nearly a year before his term is scheduled to expire.

 

Read Full Article Here : Dailypioneer.com

Labels:

Comments

Post a Comment

Popular posts from this blog

Choosing ESG globally: What's the urgency? - Sanjay Pasari

Sanjay Pasari , director of Banco Consultant Pvt Ltd, has a vision for sustainable growth throughout India. In his vision, businesses could grow positively without corruption by implementing ESG principles. According to Sanjay Pasari , middleman provide valuable feedback to the producers about their market offering, as well as constantly matching supply and demand in the market. Supplier feedback and matching supply and demand are valuable services provided by middleman to producers. A legitimate middleman is essential for the finance sector, but some practices are harmful to investors and investees. Environmental, social, and governance (ESG) implementations strengthen the organization and offer it a big leap towards building a devoted company from the ground up.    The ban on middlemen from the market is a great initiative concern raised by Sanjay Pasari . Eliminating middleman will benefit investors by increasing profit and improve the status of legitimate middleman. ...
Post a Comment
Read more

Sanjay Pasari summoning ESG adoption in organizations across nation

Sanjay Pasari director of Banco Consultant Pvt. Ltd. praises the enforcement of ESG in Indian companies by SEBI. He says “ adopting ESG enables firms to create strong governance and risk management systems. Organizations can benefit both directly and indirectly from this paradigm, including operational effectiveness, market distinctiveness, long-term value-oriented business resilience, and brand positioning”. He also thinks that enforcing ESG in Indian companies with restrict the practice of unethical intermediates. “ In addition to continually balancing supply and demand in the market, intermediaries give producers insightful input about their product offerings. While some honest intermediaries are beneficial and necessary for the financial sector, others of their behaviors are destructive to investors and investees. ESG implementation fortifies the firm and gives it the opportunity to take a giant step toward creating a dedicated company from scratch. And eliminate such illegitimate...
Post a Comment
Read more

Sanjay Pasari Small Green Steps towards Implementing ESG is Incredible

Banco Consultant Director, Sanjay Pasari is adoring the ESG adoption in Indian companies, policy rolled out by SEBI recently. He says “adopting Environmental, Social, and Governance (ESG) measures is now more crucial than ever for businesses of all kinds to flourish in the present and also future-proof itself due to rising consumer awareness and demand for climate action”. Conscious consumerism is one of the main things that the COVID-19 epidemic has fueled, and many businesses have responded by making net-zero or carbon-neutral commitments by vowing to cut greenhouse gas emissions and engage in climate change.   In such a situation, Impossible Foods, a business that produces meat, dairy, and fish without using animals, has raised over USD 1.6 billion to date and experienced a sharp increase in demand for its goods, the production of which the business says consumes substantially fewer natural resources.   Sanjay Pasari is very much in favor of implementing ESG within the ...
Post a Comment
Read more