WASHINGTON – The ONE Campaign released the following statement responding to news that the World Bank’s executive board has selected Ajay Banga as the next President of the World Bank Group.

Gayle Smith, CEO of the ONE Campaign said: We welcome the appointment of Ajay Banga as the World Bank’s next President and are counting on his commitment to lead during a time of great jeopardy. Poverty is increasing for the first time in a generation, progress on infant immunization is in reverse, and many vulnerable countries are facing a dangerous debt crisis. Most significant, the capital needed to support low- and low-middle income countries hit by a pandemic, climate change and rising food and fuel prices is in short supply. We need to triple lending and grant volumes, halve the time it takes to deliver a loan, and ensure that the Bank serves those living in poverty, not just its largest shareholders.

Since his nomination, Ajay Banga has shown that he will listen to all of the Bank’s shareholders, experts, NGOs and community leaders. His task is enormous, but he brings to the table a wealth of knowledge and experience and a stated commitment to revitalizing the World Bank. We at the ONE Campaign will continue to press the Bank and its shareholders to deliver bold solutions, and look forward to working with the Bank’s new president to ensure that those solutions are realized.