Hi everybody and welcome to the podcast in Good Company.

Now today I'm lucky enough to have the president of the World Bank, Ajay Banga.

Now, he has got a tremendous background.

He basically ran MasterCard, increased the value of MasterCard but 18 times.

Grew up in India, father in the military, we talked about how to run a company, Indian values,

how to transform the World Bank.

He is one of the most impressive

and interesting and important leaders just now.

You have to watch this one.

So, first of all, Sasadial Carl, IJ.

Satriakal to you.

Very good.

It's an honor to have you here, the president of the World Bank.

It's a pleasure to be with you, Nikolai.

And the thing is that there are so many interesting things to talk about.

I mean, the whole global situation, what you're doing in the bank, your background and so on. But let's just get some basics out of the way. What is the World Bank? So the World Bank is an institution that has five components to it, and it has created

back in the late 40s after the Second World War, essentially to help reconstruct Europe and Japan.

Somewhere along the line, as that moved pretty well by the 60s, it re-diverted its focus onto eliminating poverty and spreading prosperity

in the emerging and developing world. So the institution inside the bank, the first one is the

International Bank of Reconstruction and Development, that is what was formed back in the late 40s.

And then there's IDEA, which is the International Development Agency,

which the difference between the two is Ida is concessional and lower price financing,

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