Devex Pro Weekender: How Banga said no to the bank, and Tedros’ daughter
World Bank President Ajay Banga's interests to attract private capital to support development initiatives; the Tedros-Africa CDC connection; and giving aid to rich regions.
By David Ainsworth // 09 September 2024When Ajay Banga was contacted about the job of World Bank president, he told them no. So they asked him again. “What part of no didn't you get the first time?” he said. Then the president of the United States rang him. So he said yes. Banga told this story as part of a wide-ranging and very interesting interview with Nir Bar Dea, CEO of Bridgewater Associates, one of the world’s largest hedge funds. It was an illuminating discussion. Not least because Banga was on the stage with Bar Dea at all. Bridgewater will host an event on Oct. 9 and 10 in Abidjan on how to end poverty in Africa, in partnership with the government of Côte d'Ivoire and Global Citizen — whose board Bar Dea sits on — in advance of the World Bank's IDA replenishment. Banga’s presence on the stage signifies his interest in engaging private capital in the work of development — perhaps unsurprising given his history as CEO of Mastercard. Also in today’s edition: Tedros praises Africa CDC, Rwanda refugee plans get a new lease on life, and Robin Hood in reverse. Bits and pieces Kids are alright. The ongoing mpox outbreak marks the first time that the Africa CDC had declared a global health emergency — a role previously reserved solely for the World Health Organization. The announcement, which was shortly followed by WHO taking a similar position, sparked speculation in some quarters that it might provoke tension between the two organizations. But nothing could be further from the truth, according to Tedros Adhanom Ghebreyesus, director-general of WHO. Speaking at a special session on mpox at the 74th WHO regional committee for Africa, he pointed out that he had been involved in setting up Africa CDC when he was minister for foreign affairs of Ethiopia. "So I am very glad to see how my daughter, the Africa CDC has grown and is now co-leading the response to mpox with WHO," he said. Waving a magic Rwanda. The United Kingdom has attracted much opprobrium in the development community in recent years over plans to ship refugees to Rwanda to claim asylum. The previous Conservative government spent several hundred million but sent precisely no one to Rwanda due to ongoing legal challenges, and the new Labour government abandoned the idea on virtually its first day in office. But now, it seems, the idea is back in motion, but in rather a different form. The German government may want to take advantage of the infrastructure the U.K. built in Rwanda and ship its own refugees there — albeit for processing, rather than to formally claim asylum. Robin Hood in reverse. An unusual criticism of U.K. aid emerged recently from an unusual source — the Institute of Economic Affairs, a notoriously right-wing think tank that has been highly critical of aid spending. Its report argued that much aid spending is being directed to places that are too rich. “The richest regional recipient of UK ODA was Ordos in China, with a GDP per capita of £27,500,” the IEA said, pointing out that this was in fact richer than 69 areas in the U.K. and arguing that it might make sense to apply the ODA limits not just at a country level but also at a regional one. Moving on Davina Dukuly has joined Surgo Health as the new director of communications after four years managing communications and media relations at the Rockefeller Foundation. José Luis Castro has taken up a new role as WHO director-general special envoy for chronic respiratory diseases. Interaction has announced Lisa Bos as its new vice president for global development policy, advocacy and learning, while Morgan Martinez is promoted from director of communications to vice president for membership, communications, and public engagement. Stephan Exo-Kreischer has been confirmed as executive director continental Europe at The ONE Campaign. Benjamin Feit has been named as CEO of Panagora Group, having previously served as chief operating officer. Founder CEO Betsy Bassan will stay on as chair of the board of directors. Alasdair Harris has taken up the role of executive director at ORCA, a philanthropic alliance working on ocean climate resilience. He was previously executive director of Blue Ventures, which works to improve the livelihoods of fishing communities. Julieta González Ocampo has been appointed as director and EU representative at CARE International’s office in Brussels. She was previously the senior EU advocacy adviser. Steve Murigi has become CEO of WeSeeHope, which helps children in extreme poverty in sub-Saharan Africa. He previously led U.K. nonprofit Primary Care International. The World Bank has appointed Qimiao Fan as the new country director for Kenya, Rwanda, Somalia, and Uganda. Fan joined the World Bank in 1991 and has since held leadership positions in various countries and regions around the world. Pro must-reads This week saw two different Pro stories focused on how we properly look after the development and humanitarian workforce. It’s an important topic and one that’s gathered more and more attention in recent years. Devex Global Development Reporter Elissa Miolene looked at the topic of burnout, and why it’s a problem in the sector. She found that organizational culture was a huge factor in whether staff members suffer from burnout. Devex contributor Rebecca Root also took a look at why people leave the sector — and found some of the same issues. Mpox vaccines have been slow to reach the Democratic Republic of Congo, where a major outbreak is under way. In an in-depth explainer, Jenny Lei Ravelo looked at what vaccines are available — and why it’s taking so long. Job of the week Looking for your next job? Devex Talent Solutions is currently seeking applications for this position: Organization: Value for Good. Role: Global Health and Life Sciences Officer. Location: Brussels, Belgium | Western Europe | Remote. Requirements: Technical or scientific background and an understanding of the health and life sciences space. Able to assess technical and economic viability and environmental and social sustainability of projects in accordance with the European Investment Bank’s policies and procedures. Could this be your next job? Apply now via the Devex job board. Up next Dementia in Africa. A conference on the future of dementia in Africa takes place this week. The event, in partnership with the Davos Alzheimer’s Collaborative and Aga Khan University, will be held in person in Nairobi, Kenya. It’s free to attend. Sept. 11-12. Get ready. The Center for Global Development is hosting a conference on accelerating innovation for climate and pandemic preparedness. The hybrid event takes place online and in person in Washington, D.C. Sept. 9.
When Ajay Banga was contacted about the job of World Bank president, he told them no. So they asked him again. “What part of no didn't you get the first time?” he said. Then the president of the United States rang him. So he said yes.
Banga told this story as part of a wide-ranging and very interesting interview with Nir Bar Dea, CEO of Bridgewater Associates, one of the world’s largest hedge funds.
It was an illuminating discussion. Not least because Banga was on the stage with Bar Dea at all.
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David Ainsworth is business editor at Devex, where he writes about finance and funding issues for development institutions. He was previously a senior writer and editor for magazines specializing in nonprofits in the U.K. and worked as a policy and communications specialist in the nonprofit sector for a number of years. His team specializes in understanding reports and data and what it teaches us about how development functions.