Publication: Remarks by World Bank Group President Ajay Banga at G20 Global Alliance Against Hunger and Poverty in Rio de Janeiro, Brazil
Loading...
Published
2024-07-24
ISSN
Date
2024-08-02
Author(s)
Editor(s)
Abstract
This document highlights the interconnectedness of poverty and hunger, emphasizing the need for a comprehensive approach to address both issues. It emphasizes the importance of investing in proven solutions, particularly in the areas of social protection, agricultural development, and knowledge sharing. The document also underscores the role of international partnerships and financial resources in achieving these goals, aiming to create a world free from both poverty and hunger.
Link to Data Set
Citation
“Banga, Ajay. 2024. Remarks by World Bank Group President Ajay Banga at G20 Global Alliance Against Hunger and Poverty in Rio de Janeiro, Brazil. © World Bank. http://hdl.handle.net/10986/41993 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Remarks by World Bank Group President Ajay Banga at the Compact with Africa: G20 Finance Ministers & Central Bank Governors Meeting, Durban, South Africa(Washington, DC: World Bank, 2025-07-25)By the middle of the 21st century, Africa is poised to play a defining role in global development, with its rapidly growing population, abundant natural resources, and expanding cities. Ajay Banga, in his remarks at the Compact with Africa side event during the G20 Finance Ministers and Central Bank Governors Meeting in Durban, South Africa, emphasized the continent's potential to become a global growth engine. With the largest and youngest workforce, Africa has the capacity to feed the planet, power renewable energy solutions, and meet its own energy needs. However, this promising future is not guaranteed, as the continent faces significant challenges, including the need to create jobs for its burgeoning youth population. Banga highlighted the importance of private-sector job creation, which accounts for 90% of employment, and stressed the need for conditions that enable businesses to thrive. The World Bank Group plays a critical role in this effort, leveraging public financing, policy reform, and private sector support to drive sustainable growth across key sectors such as infrastructure, agribusiness, healthcare, tourism, and value-added manufacturing.Publication Remarks by World Bank Group President Ajay Banga at the 2024 Annual Meetings Plenary(Washington, DC: World Bank, 2024-10-28)In his speech at the 2024 Annual Meetings Plenary, World Bank Group President Ajay Banga highlighted the organization's achievements over its 80-year history and outlined its future direction. He emphasized the dual focus on reconstruction and development, reflecting on the World Bank's origins and its evolving role in addressing global challenges such as poverty, climate change, conflict, and pandemics. Banga discussed the need for the World Bank to be faster, simpler, and more impact-oriented. He noted improvements in project approval times, streamlined processes, and enhanced collaboration with other multilateral development banks. He also highlighted the importance of measurable outcomes and increased lending capacity to maximize the institution's impact.Publication Remarks by World Bank Group President Ajay Banga at the International Development Association (IDA) Midterm Review(Washington, DC: World Bank, 2023-12-06)These remarks were delivered by World Bank Group President, Ajay Banga, at the International Development Association (IDA) Midterm Review on December 6, 2023. He extended his condolences to Tanzania and the communities impacted in the floods a few days ago. He assured that the World Bank will be by their side during the recovery and reconstruction. He spoke about the founding of International Development Association, charged with a simple yet noble mission to raise standards of living and build momentum for growth in developing countries. He questioned on how can we hope to make even adequate progress while 600 million people in Africa – 36 million of whom live here in Tanzania still don’t have access to reliable electricity He cited the example from town in Nigeria where IDA had helped fund a mini-grid system, and the electricity it generated allowed small farmers to do their work in half the time, it enabled shop keepers to accept digital payments, and gave diabetics regular access to climate-controlled insulin. He insisted that we must make good on the World Bank’s evolution roadmap and make IDA more approachable, accessible, and understandable. He highlighted that together we will reimagine what IDA could become and what we could achieve as a result. He concluded by saying that we will have the opportunity to commit ourselves to the vision that sparked the creation of IDA—a vision of a world where poverty is not a barrier to human potential, but a world where every individual has the opportunity to thrive.Publication Remarks by World Bank Group President Ajay Banga at Transforming Climate Finance Event, COP28(Washington, DC: World Bank, 2023-12-01)These were the remarks delivered by World Bank Group President Ajay Banga at the COP28 Climate Finance Event on December 1, 2023. He spoke about the resources of wealthy nations can create opportunities, meanwhile the abundance of sun, wind, fertile soil, and young people enjoyed by emerging economies could drive our future. We have inherited decades of knowledge and benefitted from the generosity of every nation, now we are being called upon to lead, and we have never been better positioned to deliver the progress that is demanded. Today, the World Bank is setting an ambitious goal to devote 45 percent of our annual financing to climate by 2025. We’re putting our ambition in overdrive and putting to work more than 40 billion dollars per year, around 9 billion dollars more than the original target. Making certain IBRD and IDA resources are deployed equally for mitigation and adaptation, because while we all are experiencing climate change, we are feeling the effects differently. Over the next few days, the World Bank will detail a blueprint for slashing methane emissions, announce a roadmap for high integrity carbon markets, discuss progress on our Private Sector Investment Lab, and outline efforts to deepen the collective impact of multilateral development banks.Publication Remarks by World Bank Group President Ajay Banga at the Mission 300 Africa Energy Summit(Washington, DC: World Bank, 2025-01-30)In his speech at the Mission 300 Africa Energy Summit on January 28, 2025, World Bank Group President Ajay Banga addressed the critical challenge of providing electricity to 300 million of the 600 million people in Africa who currently lack access. This initiative is seen as a foundational step for job creation and future development, especially considering the projected influx of 360 million young people into the workforce over the next decade, with only 150 million job opportunities available. Banga emphasized the necessity of collaboration among governments, businesses, philanthropies, and development banks to achieve this goal.
Users also downloaded
Showing related downloaded files
Publication The Container Port Performance Index 2023(Washington, DC: World Bank, 2024-07-18)The Container Port Performance Index (CPPI) measures the time container ships spend in port, making it an important point of reference for stakeholders in the global economy. These stakeholders include port authorities and operators, national governments, supranational organizations, development agencies, and other public and private players in trade and logistics. The index highlights where vessel time in container ports could be improved. Streamlining these processes would benefit all parties involved, including shipping lines, national governments, and consumers. This fourth edition of the CPPI relies on data from 405 container ports with at least 24 container ship port calls in the calendar year 2023. As in earlier editions of the CPPI, the ranking employs two different methodological approaches: an administrative (technical) approach and a statistical approach (using matrix factorization). Combining these two approaches ensures that the overall ranking of container ports reflects actual port performance as closely as possible while also being statistically robust. The CPPI methodology assesses the sequential steps of a container ship port call. ‘Total port hours’ refers to the total time elapsed from the moment a ship arrives at the port until the vessel leaves the berth after completing its cargo operations. The CPPI uses time as an indicator because time is very important to shipping lines, ports, and the entire logistics chain. However, time, as captured by the CPPI, is not the only way to measure port efficiency, so it does not tell the entire story of a port’s performance. Factors that can influence the time vessels spend in ports can be location-specific and under the port’s control (endogenous) or external and beyond the control of the port (exogenous). The CPPI measures time spent in container ports, strictly based on quantitative data only, which do not reveal the underlying factors or root causes of extended port times. A detailed port-specific diagnostic would be required to assess the contribution of underlying factors to the time a vessel spends in port. A very low ranking or a significant change in ranking may warrant special attention, for which the World Bank generally recommends a detailed diagnostic.Publication Business Ready 2024(Washington, DC: World Bank, 2024-10-03)Business Ready (B-READY) is a new World Bank Group corporate flagship report that evaluates the business and investment climate worldwide. It replaces and improves upon the Doing Business project. B-READY provides a comprehensive data set and description of the factors that strengthen the private sector, not only by advancing the interests of individual firms but also by elevating the interests of workers, consumers, potential new enterprises, and the natural environment. This 2024 report introduces a new analytical framework that benchmarks economies based on three pillars: Regulatory Framework, Public Services, and Operational Efficiency. The analysis centers on 10 topics essential for private sector development that correspond to various stages of the life cycle of a firm. The report also offers insights into three cross-cutting themes that are relevant for modern economies: digital adoption, environmental sustainability, and gender. B-READY draws on a robust data collection process that includes specially tailored expert questionnaires and firm-level surveys. The 2024 report, which covers 50 economies, serves as the first in a series that will expand in geographical coverage and refine its methodology over time, supporting reform advocacy, policy guidance, and further analysis and research.Publication Global Economic Prospects, June 2025(Washington, DC: World Bank, 2025-06-10)The global economy is facing another substantial headwind, emanating largely from an increase in trade tensions and heightened global policy uncertainty. For emerging market and developing economies (EMDEs), the ability to boost job creation and reduce extreme poverty has declined. Key downside risks include a further escalation of trade barriers and continued policy uncertainty. These challenges are exacerbated by subdued foreign direct investment into EMDEs. Global cooperation is needed to restore a more stable international trade environment and scale up support for vulnerable countries grappling with conflict, debt burdens, and climate change. Domestic policy action is also critical to contain inflation risks and strengthen fiscal resilience. To accelerate job creation and long-term growth, structural reforms must focus on raising institutional quality, attracting private investment, and strengthening human capital and labor markets. Countries in fragile and conflict situations face daunting development challenges that will require tailored domestic policy reforms and well-coordinated multilateral support.Publication Global Economic Prospects, January 2025(Washington, DC: World Bank, 2025-01-16)Global growth is expected to hold steady at 2.7 percent in 2025-26. However, the global economy appears to be settling at a low growth rate that will be insufficient to foster sustained economic development—with the possibility of further headwinds from heightened policy uncertainty and adverse trade policy shifts, geopolitical tensions, persistent inflation, and climate-related natural disasters. Against this backdrop, emerging market and developing economies are set to enter the second quarter of the twenty-first century with per capita incomes on a trajectory that implies substantially slower catch-up toward advanced-economy living standards than they previously experienced. Without course corrections, most low-income countries are unlikely to graduate to middle-income status by the middle of the century. Policy action at both global and national levels is needed to foster a more favorable external environment, enhance macroeconomic stability, reduce structural constraints, address the effects of climate change, and thus accelerate long-term growth and development.Publication Digital Progress and Trends Report 2023(Washington, DC: World Bank, 2024-03-05)Digitalization is the transformational opportunity of our time. The digital sector has become a powerhouse of innovation, economic growth, and job creation. Value added in the IT services sector grew at 8 percent annually during 2000–22, nearly twice as fast as the global economy. Employment growth in IT services reached 7 percent annually, six times higher than total employment growth. The diffusion and adoption of digital technologies are just as critical as their invention. Digital uptake has accelerated since the COVID-19 pandemic, with 1.5 billion new internet users added from 2018 to 2022. The share of firms investing in digital solutions around the world has more than doubled from 2020 to 2022. Low-income countries, vulnerable populations, and small firms, however, have been falling behind, while transformative digital innovations such as artificial intelligence (AI) have been accelerating in higher-income countries. Although more than 90 percent of the population in high-income countries was online in 2022, only one in four people in low-income countries used the internet, and the speed of their connection was typically only a small fraction of that in wealthier countries. As businesses in technologically advanced countries integrate generative AI into their products and services, less than half of the businesses in many low- and middle-income countries have an internet connection. The growing digital divide is exacerbating the poverty and productivity gaps between richer and poorer economies. The Digital Progress and Trends Report series will track global digitalization progress and highlight policy trends, debates, and implications for low- and middle-income countries. The series adds to the global efforts to study the progress and trends of digitalization in two main ways: · By compiling, curating, and analyzing data from diverse sources to present a comprehensive picture of digitalization in low- and middle-income countries, including in-depth analyses on understudied topics. · By developing insights on policy opportunities, challenges, and debates and reflecting the perspectives of various stakeholders and the World Bank’s operational experiences. This report, the first in the series, aims to inform evidence-based policy making and motivate action among internal and external audiences and stakeholders. The report will bring global attention to high-performing countries that have valuable experience to share as well as to areas where efforts will need to be redoubled.