As the world’s largest multilateral development bank, the World Bank is under intense pressure to boost lending to developing countries and emerging markets facing trillions of dollars of annual costs to deal with climate change, and to address poverty and boost economic growth.
Banga, the former Mastercard CEO who took over as World Bank chief in June 2023, has ambitious goals to retool the 70-year-old institution to meet today’s challenges and has set a $100 billion target for replenishing the bank’s lending arm for low-income countries.
Reuters White House Correspondent Andrea Shalal speaks with Banga a week before finance chiefs and central bankers from around the world arrive in Washington for the annual meetings of the World Bank and International Monetary Fund.
