Biden nominates former MasterCard chief Banga to head World Bank

By Andrea Shalal WASHINGTON (Reuters) - U.S. President Joe Biden on Thursday nominated Indian-American business executive Ajay Banga to become president of the World Bank, lauding his experience forging public-private partnerships to address financial inclusion and climate change. The World Bank on Wednesday said it expects to select a new president by early May to replace David Malpass, who announced his resignation last week. Banga's nomination by the United States all but assures he will assume a job that oversees billions of dollars of funding as the institution embarks on a major series o...