Statement on the Selection of Ajay Banga as President of the World Bank

I want to congratulate Ajay Banga—my nominee for the next President of the World Bank—on his resounding approval by the Bank's Board of Governors.

Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President. And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction, including climate change. Ajay will also be integral in bringing together the public and private sectors, alongside philanthropies, to usher in the fundamental changes in development finance that this moment requires.

I look forward to working with Ajay in his new role and to supporting his efforts to transform the World Bank, which remains one of humanity's most critical institutions to reduce poverty and expand prosperity around the globe.