Statement by the Vice President on the Nomination of Ajay Banga to Lead the World Bank

Ajay Banga will be a transformative World Bank President as the institution works to deliver on its core development goals and address pressing global challenges, including climate change. Since I was elected Vice President, Ajay and I have worked closely together on a new model of public-private partnership designed to address the root causes of migration in Northern Central America. Through that partnership, nearly 50 businesses and organizations have mobilized to generate more than $4.2 billion in commitments that will create opportunity and hope for people in the region. Ajay has brought great insight, energy, and persistence to the challenges of promoting economic development and tackling the root causes of migration.