A special interview with World Bank boss Ajay Banga

Business Daily

BBC

Business

4.4 • 816 Ratings

🗓️ 3 June 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Exactly one year into his new job, we meet Ajay Banga, the President of the World Bank. He previously ran Mastercard, but following President Biden's nomination, Ajay Banga took on one of the most important roles in finance in June 2023. He tells us what steps he is putting in place to reform the organisation, how western governments are struggling to fund it to the same levels that it used to, and he warns inflation might not come down much further.

Presenter: Sam Fenwick Producer: Olie D'Albertanson

(Photo: Ajay Banga. Credit: Getty Images)

Transcript

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0:00.0	Hello and welcome to Business Daily from the BBC World Service with me, Sam Fenwick.
0:06.8	Today I'm talking to the boss of the World Bank, Mr. R.J. Banger.
0:11.4	Luck plays a really big role in what you do and the other half of your life is what you do with the luck.
0:17.3	Mr. Banger is celebrating a significant milestone.
0:24.5	He's been the boss of the World Bank for the past 12 months.
0:33.6	When he was nominated, the US President Joe Biden lauded him as uniquely equipped to lead the World Bank at this critical moment in history.
0:37.8	Under the new president of the World Bank, change is already taking room.
0:44.7	The World Bank is hitting a big milestone too, 80 years. But it's not all cake and candles.
0:52.0	They've been criticized for not acting quickly enough on climate change. So has Mr. Banger managed to restore the bank's reputation in the past 12 months?
0:57.5	So who is RJ Bangor and what makes him uniquely qualified to run the World Bank?
1:04.4	He's a former boss of MasterCard and during his tenure there, the company's revenue more than tripled.
1:11.4	He's also served as vice-chairman of private equity firm General Atlantic.
1:16.2	He's been honorary chairman of the International Trade of Commerce.
1:20.0	And he's been ranked among the top 10 best-performing CEOs at Harvard Business Review.
1:25.8	He was born in India, attending Delhi University and the Indian Institute of Management in Ahmedabad.
1:33.1	He's also been called a transformative leader by the US President Joe Biden.
1:39.7	Mr. Bangor, I understand that you have in your office and you carry round in your wallet
1:46.3	motivational quotes that you like to keep an eye on. So one is fail better. Another one is
1:53.7	question everything always. And another one of your favorites is done is better than perfect.
2:00.8	How do they help you? Why do you feel that you? And another one of your favorites is done is better than perfect.
2:03.3	How do they help you?
2:05.6	Why do you feel that you need them?
	...

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