Salem Radio Network News Tuesday, March 21, 2023


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

WASHINGTON (Reuters) – US President Joe Biden’s nominee to lead the World Bank, ex-Mastercard Chief Executive Officer Ajay Banga, said he plans to meet with government officials in Europe, Asia, Africa and potentially Latin America to hear their views on challenges facing the bank.

Banga told reporters he believed scientific evidence on climate change and said it would be essential for the bank to structure its operations to continue to work on poverty reduction and inequality, while also tackling climate change.

Asked about a drive to stretch the bank’s balance sheet and increase its lending capacity, Banga said the bank should “do all it can” to work on recommendations prepared for the Group of 20 major economies, while still protecting the bank’s AAA credit rating.

Mobilizing more private sector capital would be critical to meeting global challenges, such as climate change, pandemics and fragility, Banga said.

(Reporting by Andrea Shalal; Editing by Chris Reese)


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