Development finance Press statement on the election of Ajay Banga as next World Bank President

German Development Minister and German World Bank Governor Svenja Schulze said,
“I congratulate Mr Banga on his election as the next World Bank President. The World Bank and its future President are facing major tasks: as the world's largest provider of funding for sustainable development, the World Bank Group must play a greater role in meeting global challenges such as climate change and pandemics. Ajay Banga has convincingly assured me that he will work for reform. The World Bank must become a true transformation bank that, in addition to fighting hunger and poverty, also drives solutions for protecting the climate and nature. I expect ground-breaking decisions at the Annual Meeting in October.”

Minister Schulze will visit Washington D.C. from May 15-17 to discuss the reform with the World Bank management and other stakeholders.