U.S. Treasury Secretary Janet Yellen on Wednesday said she expected the U.S. nominee to head the World Bank, former Mastercard CEO Ajay Banga, to be elected as president of the multilateral development bank.
In testimony prepared for the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee, Yellen said Banga would be charged with helping evolve the institution to better address new challenges.
Banga, 63, recently completed a three-week world tour to meet government leaders, civil society groups and others in borrowing and donor countries as he campaigned for the bank's top post. He has won the support of enough other governments to virtually assure his confirmation as World Bank president, including India, Britain, France, Germany, Italy, Japan, Bangladesh, Colombia, Egypt, Ivory Coast, Kenya, Saudi Arabia and South Korea.
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