U.S. Businessman Ajay Banga Approved to Lead World Bank

The World Bank board approved Ajay Banga as its next president, putting the former Mastercard CEO in charge of a bank overhaul intended to expand lending capacity and fight climate change

As economists warn that limiting global warming to 1.5 degrees Celsius will cost many more trillions than anticipated, WSJ looks at how the funds could be spent, and who would pay.

Illustration: Preston Jessee/WSJWASHINGTON—The World Bank’s executive board approved Ajay Banga as its next president on Wednesday, putting the India-born American businessman in charge of an effort

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