Page 2 - Ajay Banga

World Bank's return to office spurs grumbling but it comes with perks

The new president of the Washington-based bank, Ajay Banga, is pushing ahead with plans to have employees work in the office four days a week by Sept. 5

School closures caused extreme learning losses: World Bank prez Ajay Banga

School closures during the COVID-19 pandemic caused extreme learning losses, World Bank President Ajay Banga said on Wednesday, underlining the need to devise a mechanism to prevent such situations before the next pandemic hits. "We have a real challenge for the generation which was undergoing schooling during the pandemic," Banga said, responding to a question by PTI. "Developed and developing countries were learning how to deal with it when we were hit by the COVID-19 pandemic. There have been extreme learning losses due to prolonged school closures during the period...and dealing with the learning losses is not just India's problem, it is an issue across the globe," he said. "My view is that we must learn now. We have to fix what we have got, pretty much make sure we learn before the next pandemic, devise a mechanism...or we will make the same mistakes again. The next one (pandemic) will come fore sure. It is a question of how long before it does come? To me that is the bigger ..

World Bank chief Ajay Banga eyes corporate philanthropy to raise funds

A panel appointed by Indian presidency of G-20 has estimated that $3 trillion is needed every year through 2030 for issues including debt relief to low-income countries and to fight climate change

World Bank chief unveils plans to boost lending to tackle climate change

The new steps, still being discussed with shareholder countries, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade

More optimistic about India now than 'in a long time': WB chief Ajay Banga

World Bank president Ajay Banga on Monday said amid global challenges, he is more optimistic about India and its economy now than he has been "in a long time". Talking to the media on the sidelines of the third G20 Finance Ministers and Central Bank Governors meeting here, the first-ever Indian-American to head the top global financial institution said the world economy is in a difficult place. Banga (63) showered praises on India for its digital infrastructure, saying he is a "big fan" of such initiatives taken by the world's fifth largest economy. "I am more optimistic about India, as a whole, economically, than I have been for a long time. The fact is that the world economy is in a difficult place. It has outperformed what everybody thought. But it does not mean that it won't be more challenging. The IMF forecast, the World Bank forecast are that the world will get a little challenging over the next year or so," he said at the Mahatma Mandir Convention Centre, where the G20 ...

G20: US talks higher private investment to spur India's energy shift

Yellen backs reforms to multilateral development banks

Ajay Banga, Yellen hail Gujarat's education 'control and command centre'

Banga said he will be visiting Delhi and will tell PM Modi during their meeting that he thinks this control and command centre is a great idea that can be put in other places in India and abroad

LIVE: We send schemes to Rajasthan from Delhi but Cong blocks them, says PM

Catch all the latest LIVE updates from across the globe here

World Bank Prez Ajay Banga to travel to India next week to attend G20 meet

World Bank President Ajay Banga will travel to India next week to attend the G20 Finance Ministers and Central Bank Governors Meeting in Ahmedabad, Gujarat, according to the development lender. This would be Banga's first trip to India after he took over as the World Bank president last month. Gujarat is hosting four meetings of G20 in the first two weeks of July. These meetings will provide an opportunity for business representatives to share their perspectives, insights and policy recommendations on various economic and business-related topics and will play a very significant role in shaping global economic agendas and policies, according to officials.

Pedro Pascal, Ajay Banga among Carnegie's 2023 Great Immigrants list

World Bank President Ajay Banga, Oscar winner Ke Huy Quan, singer-songwriter Alanis Morissette and The Mandalorian star Pedro Pascal are on this year's Great Immigrants list announced on Wednesday by the Carnegie Corporation of New York. Since 2006, the foundation has assembled an annual list of notable naturalised American citizens to celebrate the contributions immigrants make to the country and how they strengthen democracy. These are extraordinary people, said Dame Louise Richardson, president of Carnegie Corporation of New York and a native of Ireland who is a naturalised citizen herself. Presenting all these amazingly positive stories of people who've contributed hugely to American life I think is important every year. However, she acknowledges that the issue of immigration has become more politicized. I do think there is a growing sense that the numbers of migrants are somehow getting out of hand -- and this is not unique to the US, Richardson told The Associated Press in a

Top headlines: Banga calls for new playbook, centre to review PLI scheme

Business Standard brings you the top headlines at this hour

World Bank needs new playbook to boost private investment in EMs: Banga

Banga told CNN's Fareed Zakaria GPS program that efforts now under way to stretch the World Bank's lending capacity and revamp its business model could potentially free up tens of billions of dollars

Indian American Ajay Banga becomes 1st person of colour to head World Bank

Indian American Ajay Banga on Friday took over as the President of the World Bank, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund. On May 3, the Executive Directors of the World Bank selected Banga, 63, as the 14th President of the World Bank for a five-year term. In February, President Joe Biden announced that the US would nominate Banga to lead the World Bank. Join us in welcoming Ajay Banga as the new President of the World Bank Group. We are committed to creating a world free from poverty on a livable planet, the World Bank said in a tweet with a picture of Banga entering the bank headquarters here on Friday. I wish Ajay Banga all the best as he takes up his new role as President of the World Bank today. I look forward to continuing the deep partnership between our institutions to do good and help those most in need, IMF managing director Kristalina Georgieva said in a tweet. Ban

Ajay Banga will be a 'transformative leader' as World Bank President: Biden

Ajay Banga will be a "transformative leader", who will bring expertise, experience, and innovation to the position of World Bank President, US President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender. The Executive Directors of the World Bank on Wednesday selected Banga as the 14th President of the bank for a five-year term beginning June 2. He became the first-ever Indian-American to head the Washington-based bank and will replace David Malpass. In February, President Biden announced that the US would nominate Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." "Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President. And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address globa

Facts to know about Ajay Banga, first Indian-American to head World Bank

As Ajay Banga gears to take charge of the World Bank officially, here are some facts to know about him

Indian-origin Ajay Banga confirmed as next president of World Bank

Ex- Mastercard CEO Ajay Banga to a five-year term as World Bank president

Banga is uniquely equipped to lead World Bank at such a critical moment: US

Indian-American business leader Ajay Banga is an exceptional candidate and he is uniquely equipped to lead the World Bank at such a critical moment, the US has said as the bank plans to formally announce his appointment as its president. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is well equipped to lead the global institution at "this critical moment in history." On March 31, The World Bank closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga. Banga is the only applicant for the position of president of the World Bank, the global financial institution said. He (Banga) is uniquely equipped to lead the World Bank at such a critical moment, and he's an exceptional candidate, Vedant Patel, State Department Principal Deputy Spokesperson, told reporters at his daily news conference on Friday. His leadership skills and management experience, his ...

IMF MD Georgieva praises Ajay Banga's commitment to opportunities for all

IMF Managing Director Kristalina Georgieva on Thursday applauded Indian-American Ajay Banga, who is slated to be the president of the World Bank, for his commitment to inclusion and opportunities for all. In February, Banga was nominated by US President Joe Biden after World Bank President David Malpass announced his decision to leave. The World Bank Board of Directors are likely to announce 63-year-old Banga as the next head of the institution soon. I have known Ajay for quite some time. I think very highly of his leadership skills, but above all of the commitment to inclusion and opportunities he has demonstrated throughout his life, International Monetary Fund Managing Director Georgieva told reporters at a news conference held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. Banga is the only candidate nominated for the World Bank presidency, which has traditionally gone to the United States. We have been talking together on many .

US nominee Ajay Banga poised to become World Bank chief unopposed

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated. The World Bank's Board of Executive Directors will interview Banga before he is formally appointed. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga. Banga is the only application received for the position of president of the World Bank, the financial institution said. The Board received one nomination and would like to announce that Mr Ajay Banga, a US national, will be considered for the position, the bank said. In accordance with established procedures, the Board of Executive Directors w

Indian-American Ajay Banga poised to become World Bank chief unopposed

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga. The former Mastercard Inc. chief, Banga currently serves as Vice Chairman at General Atlantic. The bank's board is expected to announce the next steps in its selection process on Thursday, with a view to confirming a new leader by early May. Over the next few months, you will see the World Bank undergo an important transition. We expect that Ajay Banga President Biden's nominee will be elected President of the World Bank, US Treas