The White House has announced the formation of a “Board of Peace” as part of US President Donald Trump’s plan to oversee the temporary governance of Gaza, amid continued violence in the territory despite a fragile ceasefire that came into effect in October.
The Board, which President Trump is set to chair, includes Ajay Banga, the Indian-origin President of the World Bank Group.
Gaza Governance Plan Amid Fragile Ceasefire
The announcement comes at a time when Gaza continues to witness deadly violence even after a ceasefire agreement took effect last October. The proposed Board of Peace is intended to supervise interim governance arrangements for the territory under the Trump administration’s plan.
While details of the Board’s mandate have not been fully outlined, the inclusion of senior international figures has drawn attention, particularly the appointment of Ajay Banga.
Who Is Ajay Banga?
Ajay Banga is the 14th President of the World Bank Group. He was nominated by former US President Joe Biden in February 2023 to lead the institution. His five-year term was confirmed in May 2023, and he assumed office on June 2, 2023.
According to the World Bank Group’s official website, Banga has sought “to transform the 80-year-old institution into a faster, more efficient, and more impactful partner in development.”
Under his leadership, the World Bank has undertaken wide-ranging reforms focused on expanding lending capacity, streamlining internal processes, and prioritising development solutions that are practical, scalable and impactful.
Early Life And Education
According to Investopedia, Ajay Banga was born on November 10, 1959, in Khadki, a small town in Maharashtra, into a Sikh family. His father served as an officer in the Indian Army.
Banga completed his Bachelor of Arts (Honours) in Economics from St Stephen’s College, Delhi, in 1981, followed by a postgraduate programme in management from the Indian Institute of Management, Ahmedabad.
From Global Business To Public Service
Before joining the World Bank Group, Banga served as Vice Chairman at General Atlantic and earlier as President and Chief Executive of Mastercard, where he led a global workforce of nearly 24,000 employees.
During his tenure at Mastercard, he founded the Mastercard Center for Inclusive Growth, aimed at advancing equitable and sustainable economic opportunity.
Banga has also served as Chairman of the International Chamber of Commerce from 2020 to 2022 and has held board positions at organisations including the American Red Cross, Kraft Foods and Dow Inc. He is a co-founder of the Cyber Readiness Institute.
International Recognition
Ajay Banga’s contributions have been recognised globally. His honours include the Singapore Public Service Star (2022), the Padma Shri (2016) awarded by the President of India, the Foreign Policy Association Medal (2012), and the Ellis Island Medal of Honour.
