Indian-American Ajay Banga named 'great immigrant'

THE president of the World Bank, Ajay Banga, has been named by a prestigious philanthropic organisation to its annual 'great immigrants' list who have enriched and strengthened America and its democracy through their contributions and actions.

Banga, who became World Bank chief in June, is the first-ever Indian-American to lead the institution. He is the only person from India in this year’s list of ‘great immigrants’ by the Carnegie Corporation of New York.

With over 30 years of experience in key positions, 63-year-old Banga is expected to usher in transformative policies at the World Bank to combat poverty and address climate change, opening opportunities for people around the globe, said a statement issued by Carnegie Corporation.

Banga started his career in India, spending 13 years at Nestle India and two years at PepsiCo. In 1996, he joined Citigroup, eventually leading the Asia-Pacific region as CEO.

Later moving to the US, Banga served as president and CEO of Mastercard for 12 years before being named executive chairman. Under his leadership, Mastercard launched the Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world, the statement said.

Prior to his appointment to the World Bank, Banga was the vice-chairman at General Atlantic. He is also a co-founder of the Cyber Readiness Institute and served as vice-chair of the Economic Club of New York.

Among numerous honours, he was awarded the Foreign Policy Association Medal, the Padma Shri Award by the President of India, and the Ellis Island Medal of Honour.

Every Fourth of July, the Carnegie Corporation of New York honours a group of “remarkable” Americans, all naturalised citizens, “who have enriched and strengthened our nation and our democracy through their contributions and actions”.

This year, the corporation honours 35 individuals from 33 countries and a wide range of backgrounds.

“The 'great immigrants' initiative is a tribute to the legacy of Andrew Carnegie, a Scottish immigrant who, like these honourees, found success in America, contributed enormously to his adopted country, and inspired others to do the same,” said Dame Louise Richardson, president of Carnegie Corporation.

The other people in the list include Vietnamese-born Academy award-winning actor Ke Huy Quan, Chilian-born actor Pedro Pascal, director-general of WTO Nigerian-born Ngozi Okonjo-Iweala, US Congressman Ted Lieu who was born in Taiwan, Grammy Award-Winning Singer and UNICEF Goodwill Ambassador Angélique Kidjo who was born in Benin, Polish-born professor emeritus of chemistry, Cornell University and Nobel Laureate Roald Hoffmann and Netherlands-born Guido Imbens, professor of economics, Stanford University, and Nobel Laureate.