The New York TimesThe New York Times

The World Bank is getting a new chief. Will he pivot toward climate action?

By David Gelles and Alan Rappeport

09 Apr 2023 · 5 min read

Editor's Note

The World Bank will host its annual spring meeting today, with shareholders set to discuss major reforms following Ajay Banga's nomination as president. The NYT looks at the potential changes ahead.

As World Bank shareholders gather in Washington for their annual spring meeting Monday, the global institution appears to be on the brink of significant change.

World leaders, led by French President Emmanuel Macron and Prime Minister Mia Mottley of Barbados, along with a constellation of academics and development experts want the bank to do more to help poor countries grappling with climate change. The bank has set out its own vision for transformation, in response to calls for action from the United States and others. Major shareholders have approved some initial reforms, including agreements to let the bank lend more money and attract more private investment.

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