The World Bank chief highlighted the use of heat-tolerant seeds, soil-matched fertilisers, regenerative practices, efficient irrigation, and robust insurance and financing systems
Shailesh Jejurikar on July 29 was named as the global CEO of FMCG major P&G, effective from January 1
World Bank's Ajay Banga said the global trade environment is currently volatile and uncertain, but upcoming trade deals between nations could ease this uncertainty and quickly lift the business sentiment.
Banga spoke during the World Bank and International Monetary Fund's Spring Meetings, which this year took place amid uncertainty surrounding President Donald Trump's inconsistent tariff policies.
We are actively engaged with them on a number of topics to do with these, and I think we will see more results of those coming out in the coming months in terms of projects, Banga said in response to a question.
The World Bank had previously noted the prolonged closure of schools due to the COVID-19 pandemic in India may cause a loss of over $400 billion in the country's future earnings, besides substantial learning losses.
Union Finance Minister Nirmala Sitharaman, Banga said he discussed issues related to G20 and cooperation between the World Bank and India.
According to Banga, while the global economy has performed better than expected, it didn't mean it wouldn't face more challenges in the coming year.
Banga, who was recently named the President of the World Bank, also said project financing designs could not be re-done at every opportunity and the focus had to move to scaling up ideas that have worked
The lawmakers urged Banga to leverage the new Country Climate and Development Reports to guide lending decisions and prioritise mitigation and adaptation actions while integrating climate change, resilience and development priorities.
During the meeting, the vice president underscored the Biden-Harris Administration's strong support for World Bank efforts to make investments and spur policy reforms that reduce poverty and advance achievement of the Sustainable Development Goals, the White House said.
On May 3, the Executive Directors of the World Bank selected Banga, 63, as the 14th President of the World Bank for a five-year term.
A 25-member executive board of the World Bank appointed Ajay Banga, former CEO of MasterCard, as the president for a period of five years starting from June 2. As an Indian-born finance and development specialist, Banga has been tasked with revitalising the organisation to confront challenges such as climate change and other worldwide crises. Watch the video to know 10 facts about the first Indian-origin president of the World Bank.
Banga, the first World Bank president from South Asia, takes over on June 2 from outgoing president David Malpass, who is stepping down early from a presidency clouded by questions over his climate stance.
Mahindra Group chairman Anand Mahindra was among those who extended their congratulations to Ajay Banga, the next president of World Bank.
Ajay Banga, 63, will take over as the President of the World Bank on June 2. He will succeed President David Malpass.
Ajay Banga on Wednesday became the first-ever Indian-American to head the bank.
As an Indian-born finance and development specialist, Banga has been tasked with revitalizing the organization to confront challenges such as climate change and other worldwide crises.
Ajay Banga, 63, the sole contender to replace departing president David Malpass, is expected to win the consensus-based vote handily after a three-week charm offensive that saw him meet with government officials, business executives and civil society groups around the world, the sources said.
Washington, Mar 30 Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period close..
While in Japan, Banga met virtually with South Korea's Deputy Prime Minister and Finance Minister Choo Kyung-Ho.
The Treasury said Banga will visit New Delhi on March 23 and 24, where his likeness has already been posted on billboards. He will meet with Prime Minister Narendra Modi as well as the minister of finance, Nirmala Sitharaman, and the minister of external affairs, Subrahmanyam Jaishankar.
Reports from Washington said 63-year-old Banga, who is nominated by US President Joe Biden to head the Bank, is due to visit China to meet officials of the People's Bank of China to seek Beijing's support for his candidature.
In order to address these issues, "trillions of dollars a year," will be required, Ajay Banga said, adding that these investments should be "larger than what multilateral banks have, larger than what even the most generous governments, including the Japanese government, have. We have to involve the private sector."
“There’s enough scientific evidence that I’m a big believer in,” Ajay Banga said in a group interview Thursday at the US Treasury Department, adding that poverty alleviation and environmental issues are “intertwined.”