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    • News
    • World Bank Annual Meetings 2023

    Banga vows to improve World Bank before asking for a capital increase

    The World Bank needs to get "better" before it gets "bigger," Ajay Banga said, kicking off the annual meetings. The president laid out priorities: focusing on impact, crowding in private sector finance, and the bank’s efficiency.

    By Sophie Edwards // 11 October 2023

    Ajay Banga promised to deliver a “better bank,” before asking shareholders for a “bigger bank,” the World Bank’s new president said during a press conference to kick off the annual meetings in Morocco.

    Banga stayed on message during his opening remarks on Tuesday, hammering home the same points he made during interviews leading up to the World Bank-International Monetary Fund gathering in Marrakech.

    His main points:

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    About the author

    • Sophie Edwards

      Sophie Edwards

      Sophie Edwards is a Devex Contributing Reporter covering global education, water and sanitation, and innovative financing, along with other topics. She has previously worked for NGOs, and the World Bank, and spent a number of years as a journalist for a regional newspaper in the U.K. She has a master's degree from the Institute of Development Studies and a bachelor's from Cambridge University.

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