Ajay Banga is the new president of the World Bank

The choice came after a four-hour interview that World Bank board members had with Banga on Monday.

Malpass’s last day at the bank will be June 1. The decision came in a vote of 24 of the board members, with Russia abstaining, rather than the usual consensus-based process, a source familiar with the process said.

Sources familiar with the process expected Banga to win the board’s approval easily after several meetings with its members in recent weeks and the formal interview on Monday.

One of the sources described Banga as a “genuine changemaker” who will help speed up reforms in the state. The bank already lends hundreds of billions of dollars to developing countries, but is working to increase its lending to help them tackle global challenges like climate change.

US Treasury Secretary Janet Yellen told Reuters last month that attracting more private capital for development goals would be a key area of ​​focus for Banga if approved.

The World Bank has been run by an American since its founding at the end of World War II, while the International Monetary Fund (IMF) has been run by a European.

Banga, who was born in India and spent his professional career there, has been a US citizen since 2007.