{"id":22729,"date":"2023-10-15T18:26:31","date_gmt":"2023-10-15T18:26:31","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate"},"modified":"2023-10-15T19:18:12","modified_gmt":"2023-10-15T19:18:12","slug":"world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate","title":{"rendered":"World Bank\u2019s Banga says exploring longer, cheaper loans as mission expands to climate"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>World Bank president Ajay Banga on Friday laid out ambitious plans to widen the development lender\u2019s mission to include climate change and other global crises, speed decision-making and offer more \u2013 and cheaper \u2013 loans.<\/p>\n

In his first major address since taking office on June 2, the former MasterCard CEO said balance sheet steps in process would yield $157 billion in new lending capacity over a decade, and the World Bank would explore loan maturities of 35-40 years for social and human capital investments.<\/p>\n

\u201cWe\u2019re investigating if we can reduce interest rates to incentivize exiting from coal as part of energy transitions,\u201d Banga told the plenary session of World Bank and International Monetary Fund annual meetings in Morocco.<\/p>\n

The lender also is looking for other ways to increase concessional finance for energy transitions for countries that use both its main lending arm for middle-income countries and its fund for low-income countries, Banga added.<\/p>\n

His remarks come a day after the World Bank\u2019s governing body approved a new vision statement: \u201cTo create a world free of poverty \u2013 on a liveable planet.\u201d<\/p>\n

The change, which has been in process for a year, broadens the bank\u2019s previous statement focused on reducing poverty and promoting shared prosperity to include easing global crises also including pandemics, food security and fragile states.<\/p>\n

\u201cWith this vision, we are …reflecting a reality that the luxury of choice was for the last generation,\u201d Banga said.<\/p>\n

The Indian-born U.S. citizen said he was calling on member countries to replenish the bank\u2019s Crisis Response Window, with a goal of raising $4 billion<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. World Bank president Ajay Banga on Friday laid out ambitious plans to widen the development lender\u2019s mission to include climate change and other global crises, speed decision-making and offer more \u2013 and cheaper \u2013 loans. In his first major address since taking office on June 2, the former MasterCard CEO said balance […]<\/p>\n","protected":false},"author":84,"featured_media":22728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,233],"class_list":["post-22729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nWorld Bank\u2019s Banga says exploring longer, cheaper loans as mission expands to climate - Eritrea<\/title>\n<meta name=\"description\" content=\"World Bank president Ajay Banga on Friday laid out ambitious plans to widen the development lender\u2019s mission to include ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank\u2019s Banga says exploring longer, cheaper loans as mission expands to climate\" \/>\n<meta property=\"og:description\" content=\"World Bank president Ajay Banga on Friday laid out ambitious plans to widen the development lender\u2019s mission to include ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-15T18:26:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-15T19:18:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/10\/sm_1697384456.562378.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"World Bank\u2019s Banga says exploring longer, cheaper loans as mission expands to climate\",\"datePublished\":\"2023-10-15T18:26:31+00:00\",\"dateModified\":\"2023-10-15T19:18:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/10\/sm_1697384456.562378.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/world-banks-banga-says-exploring-longer-cheaper-loans-as-mission-expands-to-climate\",\"name\":\"World Bank\u2019s Banga says exploring longer, cheaper loans as mission expands to climate - 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