Member-only story
World Bank selects Wall Street CEO to address climate and sustainable development
As Ajay Banga, a former Wall Street CEO, was chosen as the World Bank’s new President, it will be interesting to learn more about the implications for such a bold move and what it means for climate finance moving forward. Banga begins his five-year term on June 2, 2023.
Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard launched the Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world. He was Honorary Chairman of the International Chamber of Commerce, serving as Chairman from 2020–2022.
He became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. Banga also served as Co-Chair of the Partnership for Central America, a coalition of private organizations that works to advance economic opportunity across underserved populations in El Salvador, Guatemala, and Honduras. He was previously on the Boards of the American Red Cross, Kraft Foods, and Dow Inc.
