New World Bank President Calls for Faster Project Execution, Focus on Climate Change

The new president of the World Bank, Ajay Banga, elected to the position on May 3, has called for speeding up the approval times of the institution’s projects while addressing global problems such as climate change.

The new president has called the current identification and approval process “too complex” and expensive. “The bank itself must evolve,” Banga summarized after explaining that “we have a lot of challenges and lack of time.” Banga has demanded these changes in a statement to which ‘Bloomberg News’ has had access on the occasion of his first day at the head of the agency and that has been shared with the staff of the bank.

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