Ajay Banga’s star power has been on display ever since it became clear that he would take over the World Bank.
Government and financial leaders rushed to meet the former Mastercard chief executive and praise his credentials as he embarked on a worldwide campaign tour this year. They heralded his meteoric rise through the global corporate ranks and passion for fusing the private and public sectors to solve the financial quandaries that trap people in poverty.
On Friday, Banga takes over the largest global anti-poverty lender — which across its five wings last year did $114 billion in loans, investments, grants, and guarantees — as it’s in the midst of a potentially radical transformation.
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About the author
Shabtai Gold
Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.
