Ajay Banga

World Bank's Banga seeks more transparency in debt restructuring process

Banga said the World Bank was working very closely with the International Monetary Fund and others to accelerate debt restructuring under the G20 Common Framework for Debt Treatments

UP's resilient farming model exemplary for small farmers: World Bank chief

World Bank Group President Ajay Banga has praised Uttar Pradesh's efforts to integrate technology with agriculture, describing the state's "resilient farming model" a global example for small and marginal farmers. Speaking at the AgriConnect Flagship event during the 2025 Annual Meetings of the World Bank, Banga showcased the UP model, having visited the state and seen things for himself in May, said the state's director of information, Vishal Singh. "The World Bank also posted its chief's speech on X, where he described what he witnessed in Uttar Pradesh," he said. The UP government also put out a statement stating how Banga commended the Yogi Adityanath government for developing an agricultural ecosystem that is resilient by design, stressing that climate adaptability was built into the system from the start rather than added later. "The way Uttar Pradesh is addressing climate challenges through its farmers is remarkable," Banga said in his speech that was shared by the UP ...

Zimbabwe needs G20 support to end debt crisis, says World Bank chief

Zimbabwe first defaulted on repayments to the World Bank in 2000. Its debts to a host of multilateral institutions and bilateral lenders

Banga family's Caravel becomes biggest shareholder in Pacific Basin

Caravel disclosed a 7.5 per cent stake in late March, and since then it has steadily expanded its holding in Pacific Basin

World Bank lifts ban on nuclear power, considers upstream gas projects

Meeting rising power demand is 'one of the most urgent and complex development challenges we face,' the bank's president, Ajay Banga said

No role beyond a facilitator: World Bank's Ajay Banga on IWT suspension

On April 25, a day after India held the Indus Waters Treaty in abeyance, Pakistan announced its intention of reaching the World Bank, seeking intervention

World Bank chief to visit UP to witness state's transformation: Govt

World Bank President Ajay Banga will visit Uttar Pradesh on Friday to witness the remarkable transformation of Uttar Pradesh, the state government said on Thursday. "His visit reflects the increasing global interest in Uttar Pradesh's rapid development under the leadership of Chief Minister Yogi Adityanath, as the state moves steadily toward its ambitious goal of becoming a USD 1 trillion economy," it said in a statement. During his one-day tour, the World Bank chief will travel from Delhi to Lucknow in the morning. He is scheduled to participate in a series of meetings and programmes at Hotel Taj, including a roundtable discussion with stakeholders in the presence of Chief Secretary Manoj Kumar Singh, the statement said. Later, he will meet the chief minister at his residence for a discussion and dinner, it added. Following the engagements in Lucknow, the World Bank president will visit the Take-Home Ration (THR) plant in Chinhat Block, where he will review the plant's operations

World Bank's Banga seeks $85 billion to leverage Africa's youth potential

Banga laid out a plan in which the World Bank, International Monetary Fund, African Development Bank and private investors may spend about $85 billion to bring power to 300 million people by 2030

India's growth rate among shiniest parts in world economy: Ajay Banga

India's growth rate is the shiniest part in the global economy, World Bank president Ajay Banga said on Thursday, noting that a lot of this is driven by the domestic market. There is no doubt that India's growth rate is among the shiniest parts in the world economy. I think being able to grow at six, seven per cent and more in this kind of environment shows you that they've done a number of things to get there, Banga told reporters ahead of next week's annual meeting of the World Bank and the International Monetary Fund. A lot of that growth is in India, is driven by the domestic market as well, which actually is a healthy sign, in some ways. What India needs to work on as the prime minister laid out is things on quality of life, like air and the quality of water and the like, he said. We are actively engaged with them on a number of topics to do with these, and I think we will see more results of those coming out in the coming months in terms of projects, Banga said in response to

WB president Banga bats for more bilateral debt forgiveness to poor nations

Banga said that the World Bank has already answered calls for its share of debt relief in restructurings by providing billions of dollars in additional grants

Yunus meets Chinese FM, WB President Banga; discusses bilateral cooperation

Earlier on Tuesday, Yunus called for repatriation of Rohingyas amid the "deteriorating" security situation in Bangladesh during a high-level meeting

Building strong relationship with US has been PM Modi's strategy: Banga

His meeting with the CEOs is an effort to make sure that India remains a strong partner in possible manufacturing opportunities and in this case he was talking about semiconductors, he added

World Bank climate finance increases by 10% to record $42.6 bn this year

World Bank President Ajay Banga has increased balance sheet leverage and taken other capital adequacy measures to squeeze out an additional $10 billion to $12 billion

Climate change, war, poverty biggest challenges: World Bank's Ajay Banga

There was no shortage of stressors to the global economy when Ajay Banga took charge at the World Bank almost a year ago: inflation eating at nations drowning in debt, a once-in-a-generation pandemic, climate disasters and Russia's invasion of Ukraine. Factor in the Israel-Hamas war and rising tensions between powerful nations, and today's agenda is even fuller as the World Bank and the International Monetary Fund hold their spring meetings in Washington this week. The world's intertwined challenges of poverty which clearly we have seen great setbacks over the past few years combined with fragility and conflict and violence, combined with climate change, is coming into a perfect storm, Banga said in an interview with The Associated Press. "We need to put all of our efforts into this. Banga highlighted new initiatives being announced at the meetings, including plans to provide 300 million people in Africa with electricity by 2030 and 1.5 billion people worldwide with health care .

8 Indians named in Time's 100 Most Influential List 2024: Details here

Ali Bhatt, Ajay Banga, Sakshi Malik, Dev Patel, Priyamvada Natarajan, Ajay Banga, Satya Nadella, and Jigar Shah named in Time's 100 most influential list

Ajay Banga, Alia Bhatt, Sakshi Malik on Time's 100 most influential list

World Bank President Ajay Banga, Bollywood actor Alia Bhatt, Microsoft CEO Satya Nadella, Olympian wrestler Sakshi Malik and actor-director Dev Patel are among the Indians who have made it to the prestigious Times's list of 100 most influential people in the world released on Wednesday. Time's 100 Most Influential People of 2024' also includes US Department of Energy's Loan Programmes Office director Jigar Shah, Professor of Astronomy and Professor of Physics at Yale University Priyamvada Natarajan; Indian-origin restaurateur Asma Khan; as well as Russian opposition leader Alexei Navalny's widow Yulia Navalnaya. Time's profile of the former Mastercard CEO, written by US Treasury Secretary Janet Yellen, said, It's not easy to find a leader with the skill and drive to take on the monumental task of transforming an essential institution, but since becoming World Bank president last June, Ajay Banga has done just that." She said Banga comes to the World Bank after leading a global ...

World Bank Chief Banga says lender 'wasting time' with too many rules

In addition to focusing the bank more on climate change and its consequences since taking over in June, Banga has often flagged what he sees as slowness and inefficiencies of the institution

Govt, MDB coffers don't have trillions of dollars: World Bank chief Banga

World Bank President Ajay Banga on Tuesday batted for removing barriers to private sector investment, saying it is key to tackling challenges before the global economy as neither the governments nor multilateral banks have trillions of dollars in their coffers. Speaking to World Economic Forum Founder and Executive Chairman Klaus Schwab in a podcast ahead of the WEF Annual Meeting in Davos next week, Banga said the immediate challenges before the world are conflicts in Gaza and Ukraine as also the debt situation in several emerging markets. In the longer term, the major challenges remain poverty and inequality as also those related to the environment, the former Mastercard chief said. Banga, also a member of the World Economic Forum's Board of Trustees, will be among the key global leaders at the five-day WEF Davos summit beginning January 15. Asked what could be the solutions to the problems of inequality and poverty, Banga said, "the best way to solve, aside from creating better

World Bank chief Banga, FM Sitharaman discuss engagement of MDBs in India

Finance Minister Nirmala Sitharaman on Wednesday met World Bank Group President Ajay Banga and discussed engagement of multilateral banks in various sectors in India. Sitharaman also discussed outcomes of G20 India Presidency and strengthening of the World Bank besides issues of mutual interest. "The Union Finance Minister stated that @WorldBank should take the lead in advancing recommendations contained in the Volume-I #TripleAgenda and the recommendations that #MDBs must be bigger, better and bolder as contained in the Volume-II, of the reports of the G20 Independent Experts Group #IEG, prepared under the #G20India Presidency, and added that other #MDBs look up to @WorldBank for such #reform initiatives," the finance ministry said in post on X. Independent Expert Group (IEG), appointed under India G20 Presidency, has recommended a triple agenda to harness the potential of Multilateral Development Banks (MDBs). The report suggested adopting a triple mandate of eliminating extreme

Multilateral Development Banks unlock over $180 bn climate finance at COP28

The Inter-American Development Bank (IDB) announced at COP28 that it will triple its climate lending to US$150 billion over the next decade