Page 3 - World Bank

US nominee to head World Bank, Ajay Banga, to visit China, other countries

Banga said he believes the scientific evidence on climate change, and underscored the need for the bank to continue to work on poverty reduction and inequality

US pick to head World Bank, Ajay Banga, starts 'charm offensive': Report

Directors appreciated Banga's management and leadership experience, and his willingness to engage openly, the source added

World Bank assures support to Sri Lanka's development reform programme

The World Bank assured its support to development reform programme of Sri Lanka, which is going through its worst-ever economic crisis in the history

Direct damages of Turkiye earthquakes equivalent to 4% of GDP: World Bank

At least 1.25 million people have lost their homes due to the earthquakes

Statsguru: G20 puts the rising debt burden of poorer countries in focus

The World Bank noted in December 2022 that the poorest countries saw their debt treble to $1 trillion over the decade ending 2021

World Bank nominee's credentials will overcome selection criticism: Yellen

In an interview, Yellen affirmed her support for the longstanding tradition of the United States choosing the World Bank's leader and Europe choosing the head of the International Monetary Fund

FM meets heads of World Bank, IMF, discusses issue of debt restructuring

Finance Minister Nirmala Sitharaman on Saturday held a roundtable with the heads of the World Bank and the IMF and discussed the issue of debt restructuring faced by some of the countries. The roundtable with World Bank President David Malpass and IMF managing director Kristalina Georgieva held on the sidelines of the first G20 Finance Ministers and Central Bank Governors meeting here discussed the issue of debt restructuring challenges and debt vulnerabilities. "Finance Minister Smt. @nsitharaman flagged the need to acknowledge today's diverse creditor landscape and build a common understanding of challenges and ways to address them," a tweet from the Finance Ministry said. She called for the voices of the vulnerable and under-represented debtor countries to be heard through the G20. "Ms@KGeorgieva, MD, IMF@IMFNews and Mr@DavidMalpassWBG, President @WorldBank called for faster debt restructuring processes and noted the debt forum was an opportunity to work together and help ...

US nominee for World Bank president gets positive reviews at G20 meeting

The finance ministers of France and Germany gave positive reviews to Banga, nominated on Thursday by US President Joe Biden as a surprise choice to lead the World Bank's transformation

US nominee for World Bank wins positive reviews at G20 finance meeting

The US nominee to lead the World Bank, ex-MasterCard CEO Ajay Banga, gained traction with leading members, a sign that he will likely have a smooth ride to confirmation by bank's executive board

Who is Ajay Banga, nominated by Joe Biden to be next World Bank president?

Announcing Banga's nomination, Biden said that Banga is "uniquely equipped to lead" the World Bank

Activists blast Biden's pick of Wall St insider Banga for World Bank prez

The World Bank needs a leader who will prioritize the urgency of the climate crisis, not another big business executive, said Collin Rees, US program co-manager at Oil Change International

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As Ajay Banga becomes World Bank president, this is where he can start

The world needs international financial cooperation. Banga can draw lessons from how John Maynard Keynes and Harry Dexter White to provide intellectual leadership to the World Bank

Biden made an inspired choice by nominating Banga says Indian Americans

US President Joe Biden has made an inspired choice by nominating Ajay Banga to the crucial position of the World Bank President, eminent Indian Americans said Thursday and described him as a global leader in technology, data, financial services and innovating for inclusion. Biden on Thursday nominated Indian-American business leader Banga, 63, to lead the World Bank. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. In nominating him to this position, the President has made an inspired choice, Indiaspora founder and chairman M R Rangaswami said after the White House announcement. Especially relevant, given recent commentary around the Bank's mission and objectives, is that Banga brings a sharp focus on climate resiliency and environmental sustainability, said Rangaswami, a venture capitalist and ...

Ajay Banga will be transformative World Bank president: Kamala Harris

Indian-American business leader Ajay Banga, who has been nominated by US President to lead the World Bank, will be a transformative President of the international financial institution, Vice President Kamala Harris said here on Thursday. Banga, 63, currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016. Ajay Banga will be a transformative World Bank President as the institution works to deliver on its core development goals and address pressing global challenges, including climate change, Harris said in a statement after Biden announced that he nominated Banga for the top World Bank position. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the

The Bank doesn't mean the World to anyone

Ajay Banga is tipped to become World Bank president in the wake of his two immediate predecessors leaving behind unfinished terms and at a time the Bank's role is once again under question

India likely to propose expert G20 group for World Bank reforms: Sources

The World Bank Group's climate change action plan for 2021-2025 has set a target to deploy an average of 35% of the institution's financing in support of climate action

Why is India concerned about lending programme of IMF, WB for poor nations?

Eleven nations have signed a note where they have argued against the Bank taking on the responsibility to lend more, thereby raising interest costs for the borrowers

Covid-19 pandemic made 1.6 mn youth idle in Pakistan: World Bank report

A study finds that preschool enrolment in Pakistan dropped by over 15 percentage points by end of 2021 in the post-pandemic era, reported The News International

World Bank may loosen loan ratio to free up $4 bn a year for climate change

Malpass said the bank's International Bank for Reconstruction and Development (IBRD) arm may lower its equity-to-lending ratio by one percentage point to 19%