Biden’s World Bank candidate wins top job

The chosen one: Banga is taking over the reins as the World Bank’s next president at a pivotal time as it looks to reshape its role to better address climate change. — AFP

WASHINGTON: The World Bank ratified the nomination of Ajay Banga as its next head, giving the Joe Biden administration a chance to evolve the anti-poverty lender toward a greater focus on climate change.

The former Mastercard Inc chief executive was tapped by President Biden in February after outgoing president David Malpass announced plans to step down almost a year early.