Washington: US nominee for the World Bank presidency, Indian-American Ajay Banga, is particularly qualified to lead the World Bank at such a crucial time, according to US Department of State Principal Deputy Spokesperson Vedant Patel on Friday.

Patel stated at a news conference that Ajay Banga “is uniquely equipped to lead the World Bank at such a critical moment, and he’s an exceptional candidate.”

Patel claims that Banga’s “leadership abilities and management experience, as well as his financial sector experience, will help achieve the World Bank objectives by eradicating extreme poverty and fostering prosperity, while also doing so in a very evolving and dynamic global playing field, where we’re dealing with a lot of new and pressing issues and challenges, like climate change and global health challenges, as well as other things,”

The World Bank recently reported that as of March 29, when the nomination time for the office of President closed, Indian-American Ajay Banga is the only nominee.

Ajay Banga will be taken into consideration for the role, according to the World Bank.

The World Bank stated in a statement posted on its website that “The World Bank Group’s Board of Executive Directors confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday, March 29 at 6:00 pm ET.”

According to a statement from the World Bank, Mr. Ajay Banga, a US citizen, has been nominated and will be given consideration for the job. As reported by the World Bank,

“In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington, D.C.,” it said. “We expect to conclude the Presidential selection in due course.”

Former Mastercard CEO Ajay Banga was proposed by US President Joe Biden in February to head the World Bank.

Ajay Banga is “uniquely” suited to manage the World Bank at this crucial juncture in history, according to a statement from Biden.

Ajay is ideally suited to manage the World Bank at this crucial juncture in history, according to Biden’s statement. Over the course of more than three decades, he has built and managed prosperous, international businesses that invest in and create jobs in emerging economies, as well as led organisations through periods of fundamental transformation. He has a demonstrated track record of leading teams, managing systems, and collaborating with international leaders to produce results.