Indian-American Ajay Banga, nominated by the government Biden, will officially replace World Bank President David Malbas, the organization announced today.

Malpas, who was nominated by Donald Trump, announced his resignation in February after intense pressure and backlash about the international organization’s strategy on the environment and climate change.

Thus, the process of replacing it “opened” prematurely. Banga will be called upon to address issues such as climate change and health care. However, Bangui’s choice has disappointed some climate activists, who have called on the Biden administration to appoint a president well versed in environmental issues.

He called the issue of climate change “a matter of trade-offs that has baffled policymakers for years.”

Banga was the CEO of Mastercard and until recently was a senior executive at US equity investment fund General Atlantic and chairman of the Agnelli family’s holding company Exor.

Traditionally, the President of the World Bank has always been an American, and the Managing Director of the International Monetary Fund has always been a European.

According to Reuters