"We face declining progress in our fight against poverty," World Bank President Ajay Banga said in his first major speech since taking office in June.
The Indian-born, naturalised US citizen warned of"growing mistrust" between developed and developing nations. "Today there is a new vision and mission for the World Bank, and that is to create a world free of poverty on a liveable planet," Banga said."But time is of the essence." "We are pushing the limits of this very important concessional resource and no amount of creative financial engineering will compensate for the fact that we just need more funding," he said.
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