Ajay Banga has been confirmed as the World Bank President, becoming the first-ever Indian-American to take on the role. He will begin his tenure on June 2, succeeding current President David Malpass. Mukesh Aghi, President of US India Strategic and Partnership Forum, congratulated Banga, stating that his leadership will be crucial in addressing urgent issues such as tackling climate change, achieving financial inclusion, gender equality, and bridging the gap between developed and emerging markets.