Biden’s World Bank Head Promises To Spend ‘As Much As We Possibly Can’ On Climate ChangeJohn Hugh DeMastri
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June 14, 2023 10:13 AM ET
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Ajay Banga, the Biden-appointed president of the World Bank, promised to “push” the financial institution to its limits to combat climate change in an interview with Reuters late Tuesday.
While Banga said he would not take any actions that would threaten the global financier’s “AAA” credit rating, he said that he would leverage the bank’s balance sheet “as hard as you can” to address climate issues, Reuters reported. Members of the Biden administration, notably including Treasury Secretary Janet Yellen and President Joe Biden himself, and climate activists have — at times over the objections of developing nations — called for Banga to shift the bank’s focus from combating poverty to additionally combating climate change.
“My logic is that if you add up all these kinds of ideas together, annually, you’re looking … in the tens of billions, not in the hundreds of billions,” Banga told the outlet. “I just think we have to be a little careful and a little sensible, of just how much we do on this, but we should do as much as we possibly can.”
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https://dailycaller.com/2023/06/14/biden-world-bank-head-push-climate-change/
