World Bank president Ajay Banga named in 2023 list of Great Immigrants

World Bank chief Ajay Banga has been named by a prestigious philanthropic organisation to its annual Great Immigrants list of honourees

Ajay Banga, the president of the World Bank, has been named by a prestigious philanthropic organisation to its annual "Great Immigrants" list of honourees who have enriched and strengthened America and its democracy through their contributions and actions.

Mr. Banga, who became World Bank chief in June 2023, is the first-ever Indian American to lead the institution. He is the only honouree from India in this year's list of ‘Great Immigrants’ by the Carnegie Corporation of New York.

Also read: Ajay Banga | World Bank’s face of change 

With over 30 years of experience in key positions, 63-year-old Banga is expected to usher in transformative policies at the World Bank to combat poverty and address climate change, opening opportunities for people around the globe, a statement issued by Carnegie on Wednesday, June 28, 2023 said.

During a fireside chat, Carnegie said Mr. Banga offered some reflections on how diversity helped him succeed as a leader: "At the end of the day, if you surround yourself with people who look like you, who walk like you and talk like you, and grew up in the same places you did and worked with you in your prior jobs, then you will have a sense of comfort of hiring people around you who have that familiarity. But you will also have the same blind spots. You will miss the same trends. You will miss the same opportunities."

Mr. Banga started his career in India, spending 13 years at Nestle India and two at PepsiCo. In 1996, he joined Citigroup, eventually leading the Asia-Pacific region as CEO.

Later moving to the U.S., Mr. Banga served as president and CEO of Mastercard for 12 years before being named executive chairman. Under his leadership, Mastercard launched the Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world, the statement said.