Ajay Banga navigates geopolitics and tight capital for World Bank job

Former Mastercard chief Ajay Banga sets out credentials to run World Bank on international tour, seeking to attract private sector to support projects and maintain a AAA rating.

March 12, 2023 . 3:07 PM

1 min read

Ajay Banga said the World Bank must do “everything it can” to squeeze more cash from its balance sheet while preserving its gold-plated credit rating.
Banga said he would seek to attract the private sector to support projects underwritten by the bank, alongside exploring elements of the G20-commissioned report into the so-called “capital adequacy frameworks” of multilateral development lenders.
The bank made loans, grants, equity investments and guarantees to partner countries and private businesses of $104bn in 2022.
Banga said he would seek to attract the private sector to support projects underwritten by the bank, alongside exploring elements of the G20-commissioned report into the so-called “capital adequacy frameworks” of multilateral development lenders.
Banga insisted maintaining the triple-A rating was a priority.