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Biden nominates former Mastercard CEO Ajay Banga to head World Bank

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(Last Updated On: February 24, 2023)

US President Joe Biden nominated former Mastercard Inc (MA.N) CEO Ajay Banga to lead the World Bank, betting the India-born executive’s ties to the private sector and emerging markets will jump-start the 77-year-old institution’s overhaul to better address climate change, Reuters reported.

Biden’s nomination on Thursday of Banga, 63, now a US citizen, all but assures he will assume a job that oversees billions of dollars of funding, as it races to help developing countries address climate change.

The World Bank (WB) on Wednesday said it expects to select a new president by early May to replace David Malpass, who announced his resignation last week after months of controversy sparked by his initial refusal to say if he accepted the scientific consensus on climate change, and pressure by Treasury Secretary Janet Yellen for him to adopt “bolder” reforms, read the report.

“I think the speed of the nomination, less than 48 hours after the WB board launched the process, reflects a desire to discourage any challengers and wrap it up quickly,” said Scott Morris, a senior fellow at the Center for Global Development and a former US Treasury official.

Biden noted Banga’s decades of experience building global companies and public-private partnerships to fund responses to climate change and migration and said he had a proven track record working with global leaders, Reuters reported.

“Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” Biden said in a statement, hailing the business executive’s Indian roots and knowledge of the challenges facing developing countries and ability to mobilize private capital to tackle big problems.

Banga’s work in India and other emerging markets, his “obsession” with expanding financial inclusion, and his deep knowledge of new technologies could help bridge the divide between rich countries and emerging markets, said Luis Alberto Moreno, who worked closely with Banga while serving as president of the Inter-American Development Bank.

“He can really be a force for change,” Moreno said, noting that Banga enjoyed the trust of financial markets.

India was expected to support Banga’s candidacy, according to Krishnamurthy Subramanian, the former top economic adviser to the Indian government who now serves as India’s executive director at the International Monetary Fund. “It’s an elegant solution.”

DIVERSITY

The bank has historically been headed by someone from the United States, its largest shareholder, while a European heads the International Monetary Fund (IMF), but developing countries and emerging markets have pushed to widen those choices.

Banga’s nomination is the first to be made public, but the bank will accept nominations from other member countries through March 29. Germany, another major shareholder, this week said the job should go to a woman since the bank has never been headed by a woman, Reuters reported.

A senior US administration official said they did not know if other countries would nominate candidates for the post.

Asked about Washington’s decision not to nominate a woman, the official said Banga had “a personal conviction and excellent track record promoting diversity, equity and inclusion in the work that he does” and would bring that view to the bank.

But Jeff Hauser, who heads the progressive Revolving Door Project, demanded Biden retract the nomination of a top official from a “rapacious international private equity firm” who had previously worked only in private sector firms.

“Neither private equity, nor MasterCard, nor Citigroup, nor PepsiCo, nor Nestlé, nor Dow promote shared prosperity. They all do vastly more to exacerbate inequality than to fight it,” he said in a statement.

Oxfam International said the next bank president should be chosen through a transparent global process. “The World Bank is not a US bank, a commercial bank, or a private equity firm. For a job of this stature, we need more than a tap on the shoulder from President Biden.”

Banga is vice chair of General Atlantic, a US private equity firm that administration officials said has invested over $800 million in EV charging solutions, solar power and sustainable farming, read the report.

He retired in December 2021 after 12 years at the helm of Mastercard, where administration officials noted that he helped 500 million unbanked people join the digital economy, averted layoffs of the bank’s 19,000 employees during the COVID-19 pandemic, and led work on climate, gender and sustainable agriculture.

Vice President Kamala Harris said Banga brought “great insight, energy and persistence” to his role as co-chair of the Partnership for Central America, which has mobilized $4.2 billion in public, private and nonprofit funds to advance economic opportunity in northern Central America.

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ICC prosecutor seeks arrest warrants for Israel’s Netanyahu and Hamas leaders

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(Last Updated On: May 21, 2024)

The International Criminal Court’s prosecutor said on Monday he had requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, his defence chief and three Hamas leaders over alleged war crimes.

ICC prosecutor Karim Khan said in a statement issued after more than seven months of war in Gaza that he had reasonable grounds to believe the five men “bear criminal responsibility” for alleged war crimes and crimes against humanity.

He said he had applied for an arrest warrant for Israeli Defence Minister Yoav Gallant as well as for Netanyahu. They have overseen Israel’s offensive against Hamas in Gaza since the group’s deadly Oct. 7 raid on Israel.

Khan has also applied for arrest warrants for Hamas chief Yahya Sinwar; Mohammed Al-Masri, the commander-in-chief of the military wing of Hamas who is widely known as Deif; and Ismail Haniyeh, head of Hamas’ Political Bureau.

A panel of pre-trial judges will determine whether the evidence supports the arrest warrants. But the court has no means to enforce such warrants, and its investigation into the Gaza war has been opposed by the United States and Israel.

Israel and Palestinian leaders have dismissed allegations of war crimes, and representatives for both sides criticised Khan’s decision.

“I reject with disgust the comparison of the prosecutor in the Hague between democratic Israel and the mass murderers of Hamas,” Netanyahu said, calling the move a “complete distortion of reality.”

U.S. President Joe Biden called the legal step “outrageous”, while Secretary of State Antony Blinken said it could jeopardize negotiations on a hostage deal and ceasefire.

Senior Hamas official Sami Abu Zuhri said the prosecutor’s decision to request warrants for the three Hamas leaders “equates the victim with the executioner”. Hamas demanded the arrest warrant request for its leaders be canceled.

NETANYAHU BEARS ‘CRIMINAL RESPONSIBILITY’

The ICC issued an arrest warrant for Russian President Vladimir Putin in March 2023 over alleged war crimes in the Ukraine war, but Monday’s step was the first time Khan has sought to intervene in the conflict in the Middle East.

“Israel, like all States, has a right to take action to defend its population,” Khan said. “That right, however, does not absolve Israel or any state of its obligation to comply with international humanitarian law.”

He said crimes against humanity allegedly carried out by Israel were part of “a widespread and systematic attack against the Palestinian civilian population pursuant to State policy.”

“These crimes, in our assessment, continue to this day,” he said.

Evidence his office collected showed Israel had systematically deprived civilians of “objects indispensable to human survival” including food, water, medicine and energy, he said. Netanyahu and Gallant bore responsibility, he said, for Israel wilfully causing great suffering and for killing as a war crime.

The Hamas leaders face allegations of bearing responsibility for crimes committed by Hamas including extermination and murder, the taking of hostages, torture, rape and other acts of sexual violence.

“Drawing parallels between the leaders of a democratic country determined to defend itself from despicable terror to leaders of a blood-thirsty terror organisation (Hamas) is a deep distortion of justice and blatant moral bankruptcy,” Israeli war cabinet minister Benny Gantz said.

WATERSHED EVENT

The ICC is the world’s first permanent international war crimes court. It 124 member states are obliged to immediately arrest the wanted person if they are on a member state’s territory.

A court of last resort, the ICC steps in only when a state is unwilling or genuinely unable to do so itself. Israel has said alleged war crimes in Gaza are being investigated domestically.

Israel and its main ally the United States are not members of the ICC, along with China and Russia.

Member states have in the past failed to hand over suspects who entered their territory, including Sudanese former President Omar Bashir, wanted since 2005 for war crimes and genocide.

But if warrants are issued against Israeli leaders, court members including nearly all European Union countries could be put in a diplomatically difficult position.

“This is a watershed event in the history of international justice,” said Reed Brody, a veteran war crimes prosecutor. “The ICC has never, in over 21 years of existence, indicted a western official. Indeed, no international tribunal since Nuremberg (against representatives of Nazi Germany) has done so.”

At least 35,000 Palestinians have been killed in the war in Gaza, according to the enclave’s health ministry, and aid agencies have also warned of widespread hunger and dire shortages of fuel and medical supplies.

Some 1,200 people were killed and more than 250 taken hostage in the Hamas-led Oct. 7 rampage, according to Israeli tallies.

 

(Reuters)

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Reactions to the death of Iran’s president in a helicopter crash

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(Last Updated On: May 20, 2024)

Iranian President Ebrahim Raisi, a hardliner long seen as a potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday.

The helicopter was also carrying Foreign Minister Hossein Amirabdollahian and six other passengers and crew.

Here are reactions to the news:

AFGHANISTAN’S ACTING PRIME MINISTER MULLAH MOHAMMAD HASSAN AKHUND, IN A STATEMENT:

“We share in the grief of the Islamic Republic of Iran and its people and extend our condolences to all the families of the victims, the nation, and the government of Iran.

“In these difficult times, we stand alongside the people of Iran and pray for forgiveness for all the victims of this incident and for patience for their families.”

PALESTINIAN PRESIDENT MAHMOUD ABBAS, IN A STATEMENT:

“We extend our sincere condolences and sympathy to the brotherly Iranian people for the passing of the late President Ibrahim Raisi and the Foreign Minister, praying to Almighty God to bestow His vast mercy upon the deceased Iranian President and the others, and to grant patience and solace to their families, affirming the solidarity of the State of Palestine and its people with the Iranian leadership and people in this great affliction.”

RUSSIAN PRESIDENT VLADIMIR PUTIN IN A MESSAGE:

“Seyed Ebrahim Raisi was an outstanding politician whose entire life was devoted to serving the Motherland.

“As a true friend of Russia, he made an invaluable personal contribution to the development of good neighbourly relations between our countries and made great efforts to bring them to the level of strategic partnership.”

TURKISH PRESIDENT TAYYIP ERDOGAN, ON X, FORMERLY KNOWN AS TWITTER:

“As a colleague who personally witnessed his efforts for the peace of the Iranian people and our region during his time in power, I remember Mr. Raisi with respect and gratitude.”

NECHIRVAN BARZANI, PRESIDENT OF THE IRAQI KURDISTAN REGION, IN A STATEMENT:

“The passing of President Raisi is an immense tragedy and a profound loss for the Islamic Republic of Iran, its people, and its friends.

“Nevertheless, we have faith that the noble people of Iran and the Islamic Republic will overcome this immense loss. May God Almighty provide assistance and protection to all, and may the memory of the departed be blessed.”

ARAB LEAGUE CHIEF AHMED ABOUL GHEIT, IN A STATEMENT:

“We pray to God to shower them with mercy and forgiveness and to inspire their families with patience and solace.”

SUDAN’S SOVEREIGN COUNCIL HEAD ABDEL FATTAH AL-BURHAN, IN A STATEMENT:

“While the President of the Sovereign Council extends his sincere condolences and sympathy to the friendly Iranian people, he prays to God Almighty that he may have mercy on the President and his companions, and grant their families patience and solace, expressing the solidarity of the Government of Sudan and its people with the leadership and the Iranian people in this great loss.”

MALAYSIAN PRIME MINISTER ANWAR IBRAHIM, ON FACEBOOK:

“I had the honour of meeting President Raisi on the sidelines of the UN General Assembly last November.

“He exemplified a deep commitment to the welfare of his people and the dignity of his nation, which represents a proud and rich civilisation rooted in the principles of Islam.

“His dedication to justice, peace, and the uplift of the ummah was truly inspiring. We committed ourselves to bolstering Malaysia-Iran relations, working together for the betterment of our peoples and the Muslim world. Our pledge will be fulfilled.”

ITALIAN PRIME MINISTER GEORGIA MELONI ON BROADCASTER CHANNEL 5 TELEVISION:

“I see in these hours that the Iranian authorities are crediting the thesis of the accident and not conspiracy theories.

“I do not see any changes in the internal order in Iran, we are in constant contact with our European and G7 allies because we are talking about an incident that is part of a particularly complex regional framework.

“I hope that the future Iranian leadership wants to commit itself to the stabilisation and pacification of the region.”

CHARLES MICHEL, PRESIDENT OF THE EUROPEAN COUNCIL, ON X:

“The European Union expresses its sincere condolences for the death of President Raisi and Foreign Minister Abdollahian, as well as other members of their delegation and crew in a helicopter accident. Our thoughts go to the families.”

JAPAN’S GOVERNMENT SPOKESPERSON YOSHIMASA HAYASHI:

Japan expresses its deepest condolences to the government and people of Iran over the death of President Raisi and the foreign minister.

VENEZUELAN PRESIDENT NICOLAS MADURO, ON X:

“…Deeply saddened to have to say goodbye to an exemplary person, an extraordinary leader of the world as our brother Ebrahim is, and will always be, an excellent human being, defender of the sovereignty of his people and unconditional friend of our country.

“From Bolivarian lands, we express our deepest condolences to Supreme Leader Ayatollah Ali Khamenei and wish for divine consolation for such a sensitive loss.”

MARYAM RAJAVI, PRESIDENT-ELECT OF THE PARIS-BASED NATIONAL COUNCIL OF RESISTANCE OF IRAN OPPOSITION GROUP, IN A STATEMENT:

“This represents a monumental and irreparable strategic blow to the mullahs’ Supreme Leader Ali Khamenei and the entire regime, notorious for its executions and massacres.

“It will trigger a series of repercussions and crises within theocratic tyranny, which will spur rebellious youths into action.

“The curse of mothers and those seeking justice for the executed, along with the damnation of the Iranian people and history, mark the legacy of Ebrahim Raisi, the notorious perpetrator of the 1988 massacre of political prisoners.”

EGYPTIAN PRESIDENT ABDEL FATTAH EL-SISI, IN A STATEMENT:

“The president of the Arab Republic of Egypt … prays that the deceased Iranian President and the departed may rest in God Almighty’s mercy, and grant their families patience and solace, expressing the solidarity of the Arab Republic of Egypt with the Iranian leadership and people in this terrible incident.”

LEBANON’S IRAN-BACKED HEZBOLLAH GROUP, IN A STATEMENT:

It praised the struggle of the martyrs in defending the causes of the nation and their service to Iran, calling on God to bless them with his mercy, to protect Khamenei, and to grant Iran the ability to overcome the ordeal with patience and determination.

SRI LANKA PRESIDENT RANIL WICKREMESINGHE, ON X:

“I express my deepest sympathies and sincere condolences to the bereaved families, the government and the people of Iran. Our thoughts and prayers are with the families of President Raisi and his entourage.”

JORDAN’S KING ABDULLAH, ON X:

“My deepest condolences to the brothers, leadership, government and people of the Islamic Republic of Iran on the death of Brother President Ebrahim Raisi, Foreign Minister Brother Hossein Amir Abdullahian and those accompanying them, may God have mercy on them all.

“We stand in solidarity with our brothers in Iran in this difficult circumstance”

UAE PRIME MINISTER SHEIKH MOHAMMED BIN RASHID AL-MAKTOUM, IN A STATEMENT:

“Our hearts are with you in this difficult time. Our prayers are that God will cover them with His vast mercy and dwell them in His spacious Paradise.”

SYRIAN PRESIDENT BASHAR AL-ASSAD, IN A STATEMENT:

In a statement of condolence, Assad affirmed Syria’s solidarity with the Islamic Republic of Iran and the families of the dead, adding that Raisi’s dedication to his work and duties had taken him to East Azerbaijan to inaugurate a vital project for his country, where he was martyred in the line of duty.

Assad added that Syria had worked with the late president to ensure strategic ties between Syria and Iran remained prosperous, recalling Raisi’s important visit to Syria as part of enhancing ties for the benefit of both nations.

IRAQ PRIME MINISTER MOHAMMED SHIA AL-SUDANI, IN A STATEMENT:

“We extend our heartfelt condolences and sympathies to the Supreme Leader of the Islamic Republic, Ali Khamenei, and to the nation of Iran, its government and people.

“We express our solidarity with the brotherly Iranian people and the officials of the Islamic Republic during this painful tragedy.”

HAMAS STATEMENT:

The statement conveyed Hamas’ “deepest condolences…for “this immense loss.”

It praised the deceased Iranian leaders for supporting the Palestinian cause and resistance against Israel and expressed confidence that Iran’s “deep-rooted institutions” will enable it to overcome “the repercussions of this great loss.”

MOHAMMED ALI AL-HOUTHI, HEAD OF YEMEN’S HOUTHI SUPREME REVOLUTIONARY COMMITTEE, ON X:

“We ask God to grant their families patience and solace. Verily we belong to Allah and to Him we shall return. The Iranian people will remain adhering to the loyal leaders of their people, by God’s will.”

QATAR’S EMIR SHEIKH TAMIN BIN HAMAD AL-THANI, ON X:

“Sincere condolences to the government and people of the Islamic Republic of Iran…asking God Almighty for mercy and forgiveness for them and for their families with patience and solace.

“We belong to Allah and to Him we shall return.”

PAKISTAN PRIME MINISTER SHEHBAZ SHARIF, ON X:

“The great Iranian nation will overcome this tragedy with customary courage.

“Pakistan will observe a day of mourning and the flag will fly at half mast as a mark of respect for President Raisi and his companions and in solidarity with brotherly Iran.”

INDIAN PRIME MINISTER NARENDRA MODI ON X:

“Deeply saddened and shocked by the tragic demise of Dr. Seyed Ebrahim Raisi, president of the Islamic Republic of Iran. His contribution to strengthening India-Iran bilateral relationship will always be remembered.

“My heartfelt condolences to his family and the people of Iran. India stands with Iran in this time of sorrow.”

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Saudi crown prince, US national security adviser meet on Gaza, bilateral deal

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(Last Updated On: May 19, 2024)

Saudi Crown Prince Mohammed bin Salman and White House National Security Adviser Jake Sullivan met to discuss a broad bilateral agreement and Israel’s war in Gaza, the Saudi state news agency reported on Sunday.

The meeting in the Saudi city of Dhahran reviewed “the semi-final version of the draft strategic agreements between the two countries, which are almost being finalised,” a statement read.

Washington and Riyadh have been discussing U.S. security guarantees and civilian nuclear assistance as part of a broader deal that the U.S. hopes would lead to normalising Saudi-Israeli relations.

The de facto Saudi leader and President Joe Biden’s top security aide also discussed the need to find a “credible track for bringing about the two-state solution” for Israel and the Palestinians, stop the war against Hamas militants in Gaza and facilitate the entry of humanitarian aid, the statement said.

The Biden administration and Saudi Arabia have been seeking to finalise the nuclear agreement, Reuters reported early this month, even as Israel-Saudi normalisation, part of a Middle East “grand bargain”, remains elusive.

The White House said on Friday that Sullivan would visit Saudi Arabia and Israel to discuss bilateral and regional matters, including Gaza and efforts to achieve lasting peace and security in the region.

Saudi Arabia, as the world’s largest oil exporter, is not an obvious candidate for a nuclear pact typically aimed at building power plants.

But the kingdom is seeking to generate substantial renewable energy and reduce emissions under an ambitious long-term plan, while critics say Riyadh might want nuclear expertise in case it someday wished to acquire nuclear weapons, despite safeguards enshrined in any deal with Washington to prevent this.

 

(Reuters)

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