World Bank President Selection Explained
The World Bank is a vital international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
The selection of the World Bank President is a significant event in global finance and development. The process typically involves nominations and a decision made by the Bank's Board of Executive Directors.
Ajay Banga Selected in May 2023
In a notable development for international finance, Ajay Banga was selected to become the new President of the World Bank. The decision was confirmed in May 2023.
Ajay Banga brings a wealth of experience from the private sector, particularly in finance and development. Before this appointment, he served as the Executive Chairman of Mastercard.
His background is seen as crucial for navigating the complexities of global economic challenges and driving the World Bank's mission forward, focusing on areas like climate change and economic inclusion.
Analysis of Options
- David Malpass: Was the outgoing World Bank President prior to Ajay Banga's selection.
- Robert E. Lucas: A Nobel laureate economist, but not associated with the World Bank presidency in May 2023.
- Ajay Banga: The individual selected as the new World Bank President in May 2023.
- Miguel Díaz-Canel: The President of Cuba, unrelated to the World Bank presidency.
Therefore, Ajay Banga is the correct choice for the new World Bank President selected in May 2023.
Important Questions from National & Intl. Orgs
The FAO accords the status of ‘Globally Important Agricultural Heritage System (GIAHS)’ to traditional agricultural systems.
What is the overall goal of this initiative?
1. To provide modern technology, training in modern farming methods and financial support to local communities of identified GIAHS so as to greatly enhance their agricultural productivity
2. To identify and safeguard eco-friendly traditional farm practices and their associated landscapers, agricultural biodiversity and knowledge systems of the local communities
3. To provide Geographical Indication status to all the varieties of agricultural produce in such identified GIAHS
Select the correct answer using the code given below.
India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?
With reference to the 'Trans-Pacific Partnership', consider the following statements :
1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security only.
Which of the statements given above is/are correct?
'Doctors Without Borders (Medecins Sans Frontieres)', often in the news, is
With reference to an initiative called ‘The Economics of Ecosystems and Biodiversity (TEEB)’, which of the following statements is/are correct?
1. It is an initiative hosted by UNEP, IMF and World Economic Forum.
2. It is a global initiative that focuses on drawing attention to the economic benefits of biodiversity.
3. It presents an approach that can help decision-makers recognize, demonstrate and capture the value of ecosystems and biodiversity.
Select the correct answer using the code given below.
