These include combating the impact of climate change, environmental degradation and protecting biodiversity.
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After his nomination as the official candidate of the United States for the presidency of the World Bank Group (WB), Ajay Banga is already on the ground. Indeed, David Malpass (current president of the WB) announced in February 2023 that he would resign from his post by June 30, 2023, one year ahead of the end of his term.
Ajay Banga performed Monday, March 6 in Abidjan, the first stopover of his world tour. He met in the Ivorian economic capital the President of the African Development Bank Group (AfDB) Akinwumi Adesina. The two men discussed current issues related to the development of the African continent.
The US candidate for the post of World Bank President spoke of the need for the World Bank Group to develop a strong partnership with the AfDB Group in order to achieve transformative results.
Among other development concerns mentioned by the two men: the fight against the impact of climate change, environmental degradation and protecting biodiversity. In its report published in September 2022 on the state of the climate in Africa, the World Meteorological Organization specifies that the marked water stress prevailing in Africa affects approximately 250 million people on the continent. In all likelihood, 4 out of 5 African countries will not have sustainably managed water resources by 2030.
The former Mastercard CEO pointed to three major issues affecting many parts of the world that concern him. These include social inequalities, the tension between humanity and nature, and the tendency to apply short-term solutions to long-term problems, which only yields poor results. He said the challenges facing the world have been complicated due to the Covid-19 pandemic, environmental degradation and the impact of the Russian-Ukrainian war.
In addition to involving the private sector, the AfDB President stressed the need to increase economic opportunities, especially in rural areas where infrastructure investment is crucial.
