New India-born World Bank chief: Real change or rebranding?

By SIBI ARASU
Associated Press

BENGALURU, India (AP) — The incoming president of the World Bank was born in India and had his early success in business there. Supporters say that gives Ajay Banga valuable insight into the challenges faced by the developing countries the bank is supposed to help. But not everyone is sure that Banga can be counted on to shake up the bank the way some think it should be. Banga will replace David Malpass, a Donald Trump appointee who declined to publicly say he agreed with scientific consensus on climate change. Climate finance activists are relieved that Banga at least believes climate change is caused by burning fossil fuels. But one activist says Banga’s pedigree working in for-profit corporations amounts to missing a chance to “change the system.”