Ajay Banga, U.S. President Joe Biden's pick to run the World Bank, will face a tough slate of issues around the institution's finances and capital structure from the get-go, thorny problems he must address as he reshapes the bank into a force for combating climate change on top of its traditional role as a poverty fighter.
Banga's nomination, announced on Thursday, won a round of rapid endorsements as top finance leaders met on Friday in India, a sign his ascendance by early May - or possibly sooner - is all but assured, though other member countries can also submit nominations through March 29 before the World Bank's governors choose the president.
Under Banga's leadership, Mastercard became among the first companies to set net-zero emission targets under the Science Based Targets initiative. He also serves on the advisory board of Beyond Net Zero, a climate finance fund. In fiscal 2022, the World Bank committed more than US$104 billion to projects around the globe, according to the bank's annual report. Experts say countries will need trillions of dollars to fight and adapt to climate change.
But some middle-income countries worry that could weaken the bank's AAA credit rating and raise borrowing costs, Mark Malloch Brown, president of the Open Society Foundations told Reuters.
He needs to have his ducts cleaned by professional lndian phone scammers .
Bull
cwt_news
“gets to climate”😂😂😂😂😂😂😂
Switch to crypto! Fuck the banks! Cut out the middle man and force the government to participate in the People's economy! Instead of the government forcing the people to participate in their fiat economy!
Climate is fake and world banks are corrupt buy bitcoin and move out of canada
A credit card company was one of the first to meet their climate initiatives… that is rich ….
We don't believe there is an actual climate crisis in the way the government narrative puts it. Many MS scientists also disagree with the world governments took the stance of popular opinions rather than to investigate new evidence.
LMAO
He should stick to phone scamming first .