Banga's nomination proud chapter in Indian-American success stories: USISPF

New York, Feb 24

The US-India Strategic Partnership Forum (USISPF) has welcomed the nomination of Indian-American Ajay Banga as the World Bank president, calling it a proud chapter in the success stories of the Indian-American diaspora.

If confirmed by the World Bank Board, Banga will be the first person of Indian descent and first Sikh-American to head the multilateral institution.

"It's another proud chapter in the success stories of the Indian-American diaspora, and I wish Ajay all the best for this new inning" said USISPF President and CEO, Mukesh Aghi.

The USISPF, an independent not-for-profit institution dedicated to strengthening the US-India partnership, said Banga's deep expertise and several years of experience in the fields of financial inclusion, public-private partnerships, and climate finance make him a phenomenal leader to head the Bank.

"Ajay's background in his early years in India, gives him a deep understanding of the emerging market world and bridging the gaps in gender parity and working towards poverty alleviation, issues at the core ethos of the Bank's mission," Aghi said in a statement.

A tireless believer in both the strength of US-India ties and strengthening the relationship even further, Banga is also a founding trustee of USISPF.

The former Mastercard CEO has been instrumental in setting up USISPF as a founding board member and a vital pillar in USISPF's success over the last five years.

Banga's work with Citigroup, Mastercard, General Atlantic, and USISPF will allow for a seamless transition to mobilising resources in public-private partnerships to tackle issues on climate, water resources, food security, and healthcare, the USISPF said in a statement.

Banga, who was born in India and studied at Delhi's St Stephen's College, currently serves as vice chairman at General Atlantic.

While announcing his nomination on Thursday, the White House said that over the course of his career, Banga has become a global leader in technology, data, financial services and innovating for inclusion.

Banga was awarded the Foreign Policy Association Medal in 2012, the Padma Shri Award by India in 2016, the Ellis Island Medal of Honor and the Business Council for International Understanding's Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.