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Ajay Banga, a businessman and development expert of Indian origin, assumed office on 2 June 2023 as the 14th President of the World Bank Group. He is the first person of Indian origin to be appointed President in the World Bank’s more than 80-year institutional history.Carnegie Corporation of New York, "Ajay Banga," Carnegie.org, https://www.carnegie.org/awards/honoree/ajay-banga/. ">【1】 Early Life and Education Born in 1959 in Pune, India, Ajay Banga shaped his education at prominent institu

Development economics is a discipline that examines the economic growth and development processes of underdeveloped and developing countries. While economic growth refers to an increase in income levels, development goes beyond economic growth to encompass improvements in education, health, infrastructure and quality of life. Development economics aims to design strategies that help countries combat poverty, reduce income inequality, and achieve sustainable welfare levels. In this context, it st