New Delhi. China on Wednesday raised doubts over the backing of eminent Indian-American entrepreneur Ajay Banga to become the President of the World Bank. It has said that it is open to the option of supporting other potential candidates on the basis of merit.
On the other hand, US President Joe Biden has nominated 63-year-old Banga for of President of the World Bank. According to the report received from America, Banga is going to visit China today. During this visit, he will meet officials of the People’s Bank of China and seek China’s support for his candidature.
Asked whether China would support Banga, Chinese Foreign Ministry spokesman Wang Wenbin told a news conference, “We have looked at the US-nominated candidate, but are open to other possible candidates.”
He said that the World Bank is the most influential multilateral development institution in the world and is of great importance in terms of global poverty reduction and development. “As a major partner of the World Bank, China is ready to work with all parties to have an open, transparent and merit-based selection process for the presidency,” Wenbin said.
He also told the media that they should ask the competent authority about this. Biden announced last month that the US was nominating Banga to lead the World Bank.
If Banga is confirmed by the World Bank’s board of directors, he will be the first Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.
Currently, Banga serves as Vice President at General Atlantic. Prior to that, he was President and CEO of Mastercard, leading the company through strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016.
