IIF Statement on Nomination of Ajay Banga as Next World Bank President

Today, Tim Adams, President and CEO of the Institute of International Finance (IIF), issued the following statement in response to Ajay Banga’s nomination to become the next president of the World Bank:

“Ajay Banga is a seasoned leader who will bring decades of experience in finance and international development to the World Bank. We welcome his nomination. Today, developing economies face an unprecedented confluence of threats -- from climate change, to tightening financial conditions, to rising levels of poverty due to the COVID-19 pandemic and geopolitical tension. The global private sector plays an important role in mobilizing the capital needed to address these challenges. Mr. Banga is experienced in building successful public-private partnerships to promote prosperity and sustainable economic growth.”

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About the Institute of International Finance (IIF)

The Institute of International Finance (IIF) is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks and development banks. To learn more about IIF, please visit www.iif.com, follow us on Twitter, LinkedIn or YouTube, or check out IIF’s podcasts.