Ajay Banga set to visit India for first time since becoming World Bank chief

Indian-origin World Bank President Ajay Banga will attend the G20 Finance Ministers and Central Bank Governors Meeting in Ahmedabad next week. This will be his first visit to the country after taking charge at the global lender.

The Executive Directors of the World Bank selected Banga as the 14th President of the World Bank in May for a five-year term after being nominated by US President Joe Biden for the post.
The Executive Directors of the World Bank selected Ajay Banga (centre) as the 14th President of the World Bank in May for a five-year term after being nominated by US President Joe Biden for the post. Photo courtesy: Twitter/@WorldBank

Indian-American Banga, 63, took over as the President of the World Bank in June, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund.

The Executive Directors of the World Bank selected Banga as the 14th President of the World Bank in May for a five-year term after being nominated by US President Joe Biden for the post.

This would be Banga's first trip to India after he took over as the World Bank president.

India is currently holding the presidency of the G20, an intergovernmental forum of the world's major developed and developing economies.

Gujarat is hosting four meetings of G20 in the first two weeks of July.

These meetings will provide an opportunity for business representatives to share their perspectives, insights and policy recommendations on various economic and business-related topics and will play a very significant role in shaping global economic agendas and policies, according to officials.

The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the European Union (EU).

Collectively, the G20 accounts for 85 per cent of the global GDP, 75 per cent of international trade, and two-thirds of the world population, making it the premier forum for international economic cooperation.

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Press Trust of India
Press Trust of India – Writer

The Press Trust of India Ltd., commonly known as PTI, is the largest news agency in India. It is headquartered in New Delhi and is a nonprofit cooperative among more than 500 Indian newspapers. It has over 500 full-time employees as of 1 January 2022, including about 400 journalists.

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