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Stay Tuned with Preet

Leading the World Bank (with Ajay Banga)

Feb 12, 2024
Ajay Banga, President of the World Bank, discusses the bank's shift towards focusing on climate change and pandemics. They explore the role and function of the World Bank, its structure and governance, and the importance of government agencies in addressing climate change. They also touch upon cybersecurity and proposals for improvement.
33:35

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The World Bank aims to invest 45% of its financing into climate-related projects by 2025, with equal emphasis on mitigation and adaptation.
  • The World Bank recognizes the importance of private sector involvement in achieving development goals and encourages collaboration between the public and private sectors.

Deep dives

Overview of the World Bank's Function and Structure

The World Bank is an institution that obtains capital from shareholder countries and utilizes it to provide financial assistance to developing nations. The bank has different branches, namely the International Development Agency (IDA) that provides grants to the poorest countries, the International Bank of Reconstruction and Development (IBRD) that offers long-term loans to middle-income countries, the International Finance Corporation (IFC) that supports private sector investment, the Multilateral Insurance Guarantee Agency (MIGA) that provides political risk guarantees, and the investment settlement dispute agency that helps settle disputes between private companies and sovereign nations. Additionally, the bank acts as a knowledge bank, providing subject matter expertise to help countries develop. The World Bank's main objective is to alleviate poverty and promote health, education, climate resilience, and economic development.

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