The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.
The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term. Traditionally, the World Bank Group president has always been an American citizen nominated by the United States, the Bank's largest shareholder, and the IMF's managing director has been a European citizen.[1] While most World Bank Group presidents have had economic experience, some have not.[2]
The fourteenth and current World Bank Group president is Ajay Banga, who was selected on May 3 and began his term on June 2, 2023.[3]
List of World Bank Group presidents
Status
Denotes an acting president of the World Bank Group
First Word Bank Group president to die in office Preston had been on medical leave from his position since February 1995 and had intended to formally retire from the Bank at the end of May of the same year.[4] Ernest Stern was appointed interim World Bank Group president in his absence.[5]
First interim World Bank Group president born outside United States First World Bank Group president born in Europe First World Bank Group president from Germany
First permanent World Bank Group president born outside United States First World Bank Group president born in Oceania First World Bank Group president from Australia
First person of color to serve as World Bank Group president First World Bank Group president born in Asia First World Bank Group president from South Korea
First woman to serve as interim World Bank Group president First World Bank Group president from European Union, from former Eastern Bloc, and from Bulgaria
^Weiss, Martin A. (February 8, 2019). Selecting the World Bank President(PDF) (Report). Congressional Research Service. p. 2. Archived(PDF) from the original on October 11, 2021. Retrieved September 20, 2021. According to an informal agreement among World Bank member countries, a U.S. candidate is chosen as the president of the World Bank and a European candidate (typically French or German) is appointed as the Managing Director of the International Monetary Fund (IMF).
^"Past Presidents". Washington, D.C.: World Bank Group Archives, World Bank Group. Retrieved January 20, 2023.
Notes
^Prior to taking office, Wolfensohn renounced his Australian citizenship to become naturalized as an American citizen since, by tradition, the head of the World Bank is always an American. He regained Australian citizenship after leaving office.[7]
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