Ajay Banga begins his term as World Bank president on June 2. He will be 'a transformative leader,' says US President Joe Biden.
, including by forging partnerships between the public and private sectors and nonprofit groups.
“Ajay understands that the challenges we face – from combating climate change, pandemics, and fragility to eliminating extreme poverty and promoting shared prosperity – are deeply intertwined. He has effectively built a broad global coalition around his vision for the bank over the course of his candidacy,” Yellen said in a statement.
Katie Malouf-Bous, interim head of Oxfam International’s Washington office, said the bank needed “serious reform” to tackle the widening gap between rich and poor, but that would require huge new public investments and “guardrails aroundOne senior US official said Banga’s election came at a critical moment marked by emerging debt distress in lower- and middle-income countries and ongoing problems in food and energy markets as a result of“It is a challenging moment, but it’s a moment where the...
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