🌎💼 Ajay Banga, Da New Boss Guy fo da World Bank
Ajay Banga jus’ wen step in as da 14th boss guy fo da World Bank on Friday an he stay asking da peeps who work dea fo jump in wit’ him fo make one “new playbook” fo dis world institution wea da way dey stay important been coming up fo question lately. 🤔📝
Dis time fo Banga fo step up an take ova da World Bank, ho, no can be mo’ important in da bank’s 77-year history. Da global pandemic wen throw us back decades in fighting poverty, Russia’s war in Ukraine stay one threat to economic stability, an da World Bank stay unda more pressure fo turn into one mo’ big time playa in da fight against climate change. 🦠💥🔥🌎
Da way we goin reach our goal goin need us fo change, gotta use every resource to da max an write one new playbook, gotta think out da box, take calculated risks, an make new partnerships wit da people an wit multilateral institutions,” Banga wen write in one message to da peeps at da bank, dat da New York Times wen see. 📝💪💡
Banga wen get nominated by President Biden in February afta David Malpass wen step down. Malpass was da outgoing World Bank boss guy who got picked by ex-President Donald J. Trump. Da World Bank’s executive board wen approve Banga in May afta he wen go around an listen to people, including visits to eight countries an plenty talk story sessions wit government officials all ova da world. 🌎✈️👂🗣️
In his message to da staff, Banga wen describe da bank’s mission as hoping to “create one world free from poverty on top one planet wea can live.” 🌍💚
Dats da second part of dat mission dat Banga going be judged on.
Malpass wen leave da job one year early afta he no could show enough dat he was committed to fighting global warming. Now get mo’ focus from da Biden administration fo the bank to pay more attention to da environment. 🌍🔥💔
But Banga, one ex-CEO of Mastercard, no bring too much climate credentials to da job an he goin be unda pressure fo show progress on da bank’s environmental agenda. He wen describe da job of dealing wit climate change an poverty as being all wrapped up togeda. 🌍💰💡
Da World Bank’s challenge, das clear: Gotta chase afta both climate adaptation an mitigation; gotta reach out to da poor countries without turning away from da middle-income countries; gotta think globally but still gotta recognize da needs of different nations an regions; gotta be willing to take risk but gotta be smart about it,” Banga wen write in one statement to World Bank’s executive board. 🏦🌍💪
On Friday, climate activists plan fo show up outside da World Bank an try fo give postcards to da staff wit demands dat dey like Banga fo listen to during his first 100 days on da job. Dey stay frustrated dat da World Bank still financing coal, oil an gas projects even though dey promise to put clean energy projects first. 🌍💔💌💥
Banga is expected to use his expertise fo amp up da resources of da World Bank an build new partnerships between da private an public sectors. Da former finance executive added in his message dat reaching da World Bank’s many goals goin need an annual global investment of trillions of dollars. 💰🌍🤝
Banga also goin have one tough job diplomatically as he tries to meet the climate goals of da United States an Europe while facing skepticism from some developing countries. He also going have da delicate job of urging China, a major World Bank shareholder an creditor, to let poor countries dat borrowed big kine money from Beijing to restructure their debts. 🇨🇳💸🤔
Da boss guy of da World Bank is traditionally chosen by the United States; da managing director of the International Monetary Fund is picked by the European Union. 🇺🇸🇪🇺💼
On Thursday, Banga had one meeting with Treasury Secretary Janet L. Yellen. Dey discussed ways fo refine how the bank operates an make it more agile an responsive, according to a summary of their conversation released by the Treasury Department. 💬📝💰”
NOW IN ENGLISH
🌎💼 Ajay Banga, the New Head Honcho for the World Bank
Ajay Banga just stepped in as the 14th president of the World Bank on Friday and he’s calling on the staff there to join him in creating a “new playbook” for this global institution whose relevance has been called into question lately. 🤔📝
This is a critical time for Banga to step up and take over the World Bank, as it can’t be more significant in the bank’s 77-year history. The global pandemic has set us back decades in fighting poverty, Russia’s war in Ukraine continues to threaten economic stability, and the World Bank is under more pressure to become a bigger player in the fight against climate change. 🦠💥🔥🌎
Reaching our goal will require us to change, make maximum use of resources and write a new playbook, think creatively, take calculated risks, and form new partnerships with the public and multilateral institutions,” Banga wrote in a message to the staff at the bank, which The New York Times got a look at. 📝💪💡
Banga was nominated by President Biden in February after David Malpass stepped down. Malpass was the outgoing World Bank president who was chosen by ex-President Donald J. Trump. The World Bank’s executive board approved Banga in May after he embarked on an extensive listening tour that included visits to eight countries and numerous conversations with government officials around the world. 🌎✈️👂🗣️
In his message to the staff, Banga described the bank’s mission as aspiring to “create a world free from poverty on a livable planet.” 🌍💚
It’s the second part of that mission that Banga will likely be judged on.
Malpass left the job a year early after failing to sufficiently demonstrate his commitment to combating global warming. There’s now more focus from the Biden administration for the bank to pay more attention to the environment. 🌍🔥💔
However, Banga, a former CEO of Mastercard, does not bring extensive climate credentials to the job and he’ll be under pressure to show progress on the bank’s environmental agenda. He’s described the tasks of dealing with climate change and poverty as being intertwined. 🌍💰💡
The World Bank’s challenge is clear: It must pursue both climate adaptation and mitigation; it must reach out to lower-income countries without turning its back on middle-income countries; it must think globally but still recognize the needs of different nations and regions; it must embrace risk but do so prudently,” Banga wrote in a statement to World Bank’s executive board. 🏦🌍💪
On Friday, climate activists plan to appear outside the World Bank and attempt to hand postcards to staff with demands they want Banga to heed during his first 100 days on the job. They continue to be frustrated that the World Bank still finances coal, oil and gas projects despite its pledges to prioritize clean energy projects. 🌍💔💌💥
Banga is expected to use his expertise to amplify the resources of the World Bank and build new partnerships between the private and public sectors. The former finance executive added in his message that accomplishing the World Bank’s many goals will require an annual global investment of trillions of dollars. 💰🌍🤝
Banga will also face a difficult diplomatic task as he seeks to satisfy the climate ambitions of the United States and Europe while facing skepticism from some developing countries. He will also confront the delicate task of urging China, a major World Bank shareholder and creditor, to allow poor countries that have borrowed huge sums from Beijing to restructure their debts. 🇨🇳💸🤔
The president of the World Bank is traditionally chosen by the United States; the managing director of the International Monetary Fund is selected by the European Union. 🇺🇸🇪🇺💼
On Thursday, Banga had a meeting with Treasury Secretary Janet L. Yellen. They discussed ways to refine how the bank operates and make it more agile and responsive, according to a summary of their conversation released by the Treasury Department. 💬📝💰
