Ajay Banga, the former CEO of Mastercard that President Joe Biden has nominated to head the World Bank, told Axios Wednesday that both the bank and the private sector needed to spend “trillions” to combat both climate change and poverty.
Banga has been aggressively campaigning for the job, meeting with officials from 37 different governments in the past three weeks, Axios reported. The World Bank faces competing pressure from wealthy and developing countries over whether to focus on combatting climate change or poverty mitigation, but Banga said he does not view the two goals as inherently opposed to one another.
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