• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, July 20, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

World Bank president-nominee partners with AfDB for transformative results

World Bank

The Matters Press by The Matters Press
March 9, 2023
Reading Time: 2 mins read
0
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021

US nominee for World Bank Group President, Ajay Banga, has emphasised the need to develop strong partnerships with the African Development Bank (AfDB) with a view to achieving transformative results.

RELATED POSTS

Atiku still confused, repetitive over‎ Fuel Subsidy Withdrawal

Befitting honour for former President Buhari commendable – TMSG

17-member committee for burial of Buhari

Banga, in a statement issued on AfDB’s website, said this when he visited the bank’s president, Dr Akinwumi Adesina, and other senior management and Board of Directors of the AfDB in Abidjan, Cote d’Ivoire.

Highlighting three major issues affecting many parts of the world, he said they included inequality, the tension between humanity and nature, and the tendency to apply short-term solutions to long-term problems, which only deliver poor results.

According to him, the world’s challenges got complicated because of the COVID-19 pandemic, environmental degradation, and the impact of the Russia-Ukraine War.

The former MasterCard Chief Executive Officer (CEO) emphasised the role of technology in tackling challenges facing the world.

Banga also talked about the role of the private sector in mobilising the much-needed capital resources for significant economic development.

He noted that these apply to both private sector capital and to private sector ingenuity and innovation, which were needed to tackle the many challenges facing the world.

Adesina, while stressing the need for a new relationship between the World Bank and the AfDB, said he agreed with Banga’s call for a regenerated partnership.

According to him, it is more than financial and more about how we work to optimise resources by engaging governments, the private sector, and other stakeholders to deliver meaningful change.

“Climate change remains the most serious existential threat to humanity. It is decimating lives, displacing people, creating refugees and deepening poverty.

“It is what I call the triangle of disaster. You have increasing poverty, rising youth unemployment and environmental degradation, a breeding ground for terrorism.”

The AfDB head called for a global security council on environment and biodiversity issues which he said were not getting the deserved attention compared with other global challenges such as war.

He called for a new way of measuring the wealth of nations rather than basing it on gross domestic product.

“This does not consider important factors like a country’s contribution to carbon emission and impact on biodiversity.

“Globally, there is a need for greater responsibility to tackle the impact of climate change, environmental degradation, and protection of biodiversity,” he said.

The AfDB boss underscored the need for increased economic opportunities, particularly in rural areas, where infrastructure investment were crucial.

According to him, 34 Heads of States attended the recently held Dakar 2 Food Summit and committed to country food and agriculture delivery compacts.

He said that close to 52 billion dollars of intended support to agriculture and food security had been identified from developing partners for the next three year.

Adesina called for a similar approach to solving the problem of lack of energy in Africa, where more than 600 million people lack access to energy.

He said that this could be resolved through initiatives like the AfDB-led Desert to Power initiative.

Adesina explained that the initiative was aimed at delivering green electricity to more than 200 million people across 11 countries using solar capacity.

U.S. President Joe Biden on February 23, 2023 announced Banga as the United States’ nominee for President of the World Bank Group.

The institution’s current president, David Malpass, also recently announced his intention to step down by the end of June 2023.

The World Bank presidential-nominee began his global tour on Monday, with his first stop in Abidjan, where he met Adesina.

Tags: World Bank
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria has not taken decision yet on fuel subsidy
Economy/Technology

Atiku still confused, repetitive over‎ Fuel Subsidy Withdrawal

July 19, 2025
Befitting honour for former President Buhari commendable – TMSG
Economy/Technology

Befitting honour for former President Buhari commendable – TMSG

July 17, 2025
Buhari attends inauguration of Barrow of Gambia
Entertainment/sports

17-member committee for burial of Buhari

July 14, 2025
Lagos falls flat to APC
Economy/Technology

Lagos falls flat to APC

July 13, 2025
African intellectuals release letter to world, caution continent on selfness
Economy/Technology

Nigeria celebrates Soyinka at 91

July 13, 2025
China introduces new visa
Economy/Technology

Nigeria maintains issuance of 5-year visa to Americans

July 13, 2025
Next Post
FAO sensitises farmers on safety standards in food production, processing

FAO urges action on sustainable Inclusive food system transformation

IITA hands over 6,952.2kg seed yam to GoSeed

Yam tubers for export should be fresh, fully matured – NAQS

Recommended Stories

July petrol pump price ranges between N140.80 and N143.80

NUPENG gives marketers ultimatum on official rate of petrol

February 27, 2022
Nigeria, Equatorial Guinea in talks to boost gas production

Petroleum ministry urges MDAs to convert vehicles to CNG engines

August 15, 2023
Despite COVID – 19, HIV Still relevant – Aisha Buhari

Despite COVID – 19, HIV Still relevant – Aisha Buhari

December 2, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Atiku still confused, repetitive over‎ Fuel Subsidy Withdrawal
  • Befitting honour for former President Buhari commendable – TMSG
  • 17-member committee for burial of Buhari

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us