Treasury Secretary Congratulates New World Bank President

Secretary Yellen voices support for Ajay Banga’s ability to form climate policy.

Secretary of the Treasury Janet Yellen congratulated Ajay Banga last week after he was elected president of the World Bank. Banga was almost unanimously voted in by the 25 Executive Directors of the bank, each of which represents selected countries of the world. Russia abstained from the vote since it could not find an alternate candidate to recommend before the vote was held.

Banga was raised in India and became an American citizen to serve as the chief executive of Mastercard. The World Bank has recently been turning its focus to fiscally support the work to combat climate change, and Secretary Yellen expressed surety that Banga’s unique perspective would be invaluable to that effort.

“Our ambitious goals will not be met overnight, and we remain committed to a staged adoption of reforms over the course of the year to build on the vision we have laid out. Ajay Banga will play a critical role in that work, including its development and implementation in the coming years,” Secretary Yellen said. “I look forward to partnering closely with Ajay Banga and the Bank on the important work ahead of us.”

As the Lord Leads, Pray with Us…

  • For Secretary Yellen as she interacts with the World Bank and other financial officials around the world.
  • For President Banga as he heads the World Bank.
  • For discernment for the president and his fiscal advisers.

Sources: Department of Treasury


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