World Bank board to consider US nominee Banga as sole candidate for next leader

The World Bank Group’s executive board said on Thursday that it will consider only one nominee, U.S.-backed former Mastercard (MA.N) Ajay Banga, to be the development lender’s next president, as no other candidates were nominated.

The bank’s board said in a statement that it will conduct a formal interview with Banga in Washington and expects to conclude its selection process “in due course.”