According to a media report, the new World Bank President Ajay Banga wants to involve the private sector more in the fight against poverty and climate change. “If we want to fight poverty and at the same time have a planet worth living in, then state money is not enough – or the money of non-profit organizations. Not even that of multilateral banks. We need trillions. We have to involve the private sector,” said Banga, according to a “Welt am Sunday” report.
According to the preliminary report, the native Indian rejected criticism that the World Bank could focus too much on the fight against climate change under the former head of Mastercard. “You can’t focus on climate change and not focus on poverty,” he said. The countries of the Global South are feeling the effects of climate change every day.
According to the report, Banga also did not rule out in the interview that the World Bank could need more money from the donor countries. He also advocated debt restructuring for poor countries. Such agreements are hard work and it must be ensured that relief is distributed fairly.
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