development
Washington (AFP) - World Bank President Ajay Banga said Tuesday that he is working to reform "dysfunctionality" among the leadership of the development lender, and pledged to refocus its mission to better address the challenges posed by climate change. The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its current twin mandate of poverty alleviation and boosting shared prosperity to include climate change. "I think the twin goals have to change to being elimination of poverty, but on a livable planet, because of the intertwined ...
AFP
Washington (AFP) - Ajay Banga began his first day at the helm of the World Bank Group on Friday, taking charge of the development lender as it grapples with questions about its future direction. "We are at a critical moment in the arc of humanity and the planet," Banga wrote Friday morning in an email to staff obtained by AFP, calling on the bank to "evolve" to meet the challenges it now faces. An Indian-born, naturalized US citizen, Banga was nominated to the position by US President Joe Biden after a successful business career which included a long stretch running the payments company Master...
AFP
Washington (AFP) - The World Bank confirmed Wednesday that Ajay Banga will be its next president, handing him the reins at a pivotal time as it looks to reshape its role to better address climate change. "The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process," the development lender wrote in a statement published shortly after executives voted to approve his leadership for a five-year term. The bank said it looked forward to working with Banga on its "ambitions and efforts aimed at tackling the toughest development challenges facing developing countries." ...
AFP
United Nations (United States) (AFP) - A United Nations report published Thursday argues that an unprecedented array of crises, chiefly among them Covid-19, has set human progress back five years and fueled a global wave of uncertainty. The UN Development Program (UNDP) announced that for the first time since it was created over 30 years ago, the Human Development Index -- a measure of countries' life expectancies, education levels, and standards of living -- has declined for two years straight, in 2020 and 2021. "It means we die earlier, we are less well educated, our incomes are going down,"...
AFP
Paris (AFP) - At least a fifth of the world's population may not have access to a Covid-19 vaccine until 2022, according to a study published Wednesday, with wealthier nations reserving more than half of next year's potential doses. With hopes that vaccines can bring an end to a pandemic that has killed some 1.6 million people, countries including the United States, Britain and the United Arab Emirates have already begun rolling out immunisation programmes. Eager to increase their chances of having access to at least one of the dozens of vaccines in development, many nations have snapped ...
AFP
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