World Bank Chief: The World Bank President was in India for a meeting of G20 Finance Ministers and Central Bank Governors.
World Bank Chief New Delhi, India –
Ajay Banga, the World Bank Chief executive officer, has warned that another epidemic like Covid-19 is simply a matter of time.
Mr Banga said today during a visit to a Skill India Mission site in New Delhi’s Dwarka that the pandemic caused tremendous learning losses, providing a difficulty for the generation who went to school during that period.
In a 2021 analysis, the World Bank estimated that learning losses from Covid-19 might cost this generation of kids about $17 trillion in lifetime earnings.
“‘We need to fix what happened and learn for the next pandemic.” Because the next pandemic will happen, it’s just a matter of when,” Mr Banga, the World Bank’s first Indian-origin head, told reporters.
Mr. Banga, who took over as World Bank President last month, also emphasised climate funding during his visit to India. He said that a trillion dollars must be spent in renewable energy ecosystems throughout the globe each year.
World Bank Chief “‘You cannot get that kind of money from governments, philanthropists, or multilateral banks alone; you must enlist the private sector,” Mr Banga said.
He went on to say that the globe is experiencing several problems, including “climate issues, fragility issues, conflict, pandemic, future healthcare needs, poverty, and job creation.”
The World Bank president said that the world should make the best use of the money it now has before returning to wealthy nations and asking, “What is your ambition for the future, and how much money are you willing to put?”
Mr. Banga remarked of the epidemic’s worldwide effect, “India had a year or two of challenges during the pandemic, but you’ve come out pretty strong.”
He went on to say that he is optimistic about the Indian economy because of the country’s investment in digital and physical infrastructure.
The World Bank President was in India for the G20 Finance Ministers and Central Bank Governors meeting, which ended yesterday.