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The White House has nominated former Mastercard CEO Ajay Banga to lead the World Bank, touting his background on fostering financial inclusion and addressing climate change. As the largest stakeholder in the institution, the U.S. usually selects who leads it, and other countries have yet to put forth their own nominee or nominees. Banga's selection sets off a monthslong confirmation process by the World Bank's board. If appointed, Banga would succeed David Malpass, who announced last week that he intends to step down at the end of June.
