The World Bank and the IMF want to rethink climate finance

Ajay Banga, the former CEO of Mastercard who is set to become the next president of the World Bank, suggested a series of ways the World Bank could work to attract private capital. “I’m not talking about removing the risk that the private sector should legitimately bear if they want to make a profit,” Banga said in remarks to the Center for Global Development ahead of the spring meetings. “But I’m talking about removing things that are holding them back.”