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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.

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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 | The Development Podcast
The Development Podcast

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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Globally, 70 percent of greenhouse gas emissions emanate from cities. At the same time, cities are being hit increasingly by climate change related shocks and stresses, ranging from more frequent extreme weather events to inflows of climate migrants. A new World Bank report provides policymakers with a compass for designing tailored policies that can help cities and countries take effective action to mitigate and adapt to climate change. Learn more.


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