AMN

Ajay Banga, the US pick to head the World Bank, appears almost certain to become the next president of the international institution as nominations closed yesterday. While no countries besides the US have announced candidates, World Bank rules allow member nations to make nominations during the window that closed yesterday afternoon.

The former Mastercard Inc. chief executive was tapped by President Joe Biden last month after current president David Malpass announced plans to step down. Mr Banga, 63, spent most of the past month on a global tour to creditor and borrower nations to build support for his nomination that included stops in China, Kenya and Ivory Coast, as well as the UK, Belgium, Panama and his native India.