Ajay Banga Begins Tenure as 14th President of the World Bank Group
The Executive Directors of the World Bank selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. Ajay Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard launched the Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world.
We Can’t Have a World Without Poverty in a World With Plastic Pollution
In her latest blog, World Bank Global Director for Environment, Natural Resources and Blue Economy (ENB), Valerie Hickey, writes about the need to prioritize strategies like reducing overall single-use plastic consumption and scaling up reuse to bring about opportunities for widescale change in the fight against plastic pollution. She writes, "We know that avoiding, minimizing, mitigating, and properly disposing of plastic waste is not simply good civic sense. It is a necessity."
On the Move: The Migration Challenge
Migration is a development challenge. About 184 million people—2.3 percent of the world’s population—live outside of their country of nationality, and almost half of them are in low- and middle-income countries. In this episode of The Development Podcast, we explore the conversation around migration, from global economic imbalances, demographic changes, and conflict, to the opportunities it can bring to people and host communities.
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Food Security - NEW UPDATE (June 1)
Food security is defined when all people, at all times, have physical and economic access to sufficient safe and nutritious food that meets their dietary needs and food preferences for an active and healthy life.
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Climate change, poverty, and inequality are the defining issues of our age. The World Bank Group is the biggest multilateral funder of climate investments in developing countries.
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The World Bank Group, led by its Board and shareholders, has embarked on a process to evolve its Vision and Mission, Operating Model, and Financial Capacity, as detailed in the Evolution Roadmap.
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