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In Good Company with Nicolai Tangen
Ajay Banga President of World Bank: Poverty, development, BRICS and India
Oct 11, 2023
Ajay Banga, President of World Bank, discusses poverty eradication, funding sources, AI and technology in addressing global inequality, values in the public sector, growing up with a father in the army, personal risk-taking, and advice for young people.
34:35
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- The World Bank's main focus is on eradicating poverty while also addressing climate change, pandemics, fragility, refugees, and food insecurity.
- The World Bank prioritizes collaboration, partnerships with other development banks, debt crisis resolution, and the significance of digital identification for financial inclusion and privacy.
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Overview of the World Bank's Purpose and Structure
The World Bank was established in the late 1940s to aid in the reconstruction of Europe and Japan after World War II. Over time, its focus shifted to eliminating poverty and promoting prosperity in the emerging and developing world. The World Bank consists of two main components: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD provides financing and development expertise, while the IDA offers concessional financing and grants for the poorest countries.
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