The Shakeup the World Bank Needs
If Ajay Banga is confirmed as World Bank President – as is likely – he will have to find ways to meet the demands of a Global South that is eager for change. Failure to do so would undermine the Bank’s long-term viability; and jeopardize the West’s future ability to exercise its convening power.
MADRID – Major changes are afoot at the World Bank, but few people seem to be paying attention. Beyond devising a new, greener mission, the Bank is undergoing a leadership transition, with important implications for its relationship with the Global South and the institution’s long-term relevance.