Biden nominates ex-Mastercard CEO Banga as next World Bank chief

U.S. President Joe Biden has nominated former Mastercard Inc. CEO Ajay Banga as the next chief of the World Bank, the White House said Thursday.

The Washington-based organization will accept recommendations for a successor to outgoing President David Malpass until March 29, but Banga is likely to be the top candidate as successive World Bank presidents have been from the United States, the largest contributor.

Biden said in a statement that Banga has “critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change.”

“Raised in ...