Trump Taps World Bank President Ajay Banga for Gaza Governance Role
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In a surprise move, President Donald Trump has appointed World Bank President Ajay Banga to a high-stakes Board of Peace tasked with overseeing the reconstruction and governance of the Palestinian territory of Gaza. Banga, a 63-year-old Indian-American finance veteran, brings a wealth of experience to the role, having served as the president and CEO of Mastercard for 10 years and leading the World Bank since 2023. The Board of Peace, chaired by Trump himself, aims to stabilize Gaza by supervising a Palestinian technocratic body, the National Committee for the Administration of Gaza (NCAG), which will handle daily restoration of public services and civil institutions. The board's portfolio includes governance capacity-building, regional relations, reconstruction, and investment attraction. Banga will lead the financial and institutional aspects, while other high-profile figures will manage diplomatic and security portfolios. The board includes US Secretary of State Marco Rubio, former British Prime Minister Tony Blair, and billionaire private equity executive Marc Rowan, among others. The appointments come at a time of extreme volatility in the region, with a fragile ceasefire in place since October. Despite the truce, more than 450 Palestinians and three Israeli soldiers have been killed, and tens of thousands have been displaced. Rights experts and global bodies have characterized the situation as a "hunger crisis" and have raised allegations of genocide. Critics have also questioned the colonial structure of the governance plan, which allows an international board to supervise a foreign territory's governance without Palestinian representation. The Board of Peace's 20-point roadmap aims to end the devastating conflict in the region, but its effectiveness remains uncertain. As Banga takes on this high-stakes role, he will face significant challenges in stabilizing Gaza and addressing the deep-seated issues driving the conflict.
