The newly appointed World Bank president Ajay Banga on Sunday expressed his support for expanding the institution’s vision beyond just poverty eradication. Banga believes that while it is crucial to create a world free of poverty, addressing environmental sustainability is equally important. As part of his plans to expand the World Bank’s efforts, Banga outlined the importance of bolstering private sector flows. He highlighted the recently launched Private Sector Investment Lab and its role in scaling transition finance in renewable energy. Ajay Banga, 63, assumed the role of World Bank president on June 2, 2022.

Source: Economic Times July 17, 2023 11:44 UTC