World Bank's Banga eyes longer, cheaper loans as mission expands to climate
© Reuters. World Bank President Ajay Banga speaks on the second day of the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 10, 2023.
"We're investigating if we can reduce interest rates to incentivize exiting from coal as part of energy transitions," Banga told the plenary session of World Bank and International Monetary Fund annual meetings in Morocco. His remarks come a day after the World Bank's governing body approved a new vision statement:"To create a world free of poverty - on a liveable planet."
"With this vision, we are ...reflecting a reality that the luxury of choice was for the last generation," Banga said.
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