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Breitbart
Breitbart
15 Apr 2023
Ian Hanchett


NextImg:Biden World Bank Nominee: We Shouldn't See China as a Competitor in Developing World, We Need Everyone on Climate

During an interview aired on Friday’s broadcast of NPR’s “Morning Edition,” Ajay Banga, President Joe Biden’s nominee for World Bank President, argued that the U.S. and World Bank shouldn’t view China as a competitor in the developing world, “we need all shoulders at the wheel, including the private sector, if you’re going to make a difference with a sense of urgency, particularly in climate,” and “All countries” have bilateral aid.

Host Michel Martin asked, [relevant exchange begins around 5:20] “Beijing has itself provided loans to developing countries. That’s been a benefit to many countries, but that’s also a source of concern to other governments who worry about what China expects in return. But China is still seen as a developing country which is eligible for World Bank support. Is China basically competing with the World Bank’s work?”

Banga responded, “I don’t think we should view ourselves as competitors, any of the multilateral banks or countries. All countries have got bilateral aid systems in addition to helping with the multilateral development banking system. And I think we need all shoulders at the wheel, including the private sector, if you’re going to make a difference with a sense of urgency, particularly in climate, where 2030 is seven years away and 2050 — with the Paris Accords — is 27 years away. We don’t have the time to play in silos. If young people have good quality of life, health, education, clean air, clean water — the things you and I take for granted — if they get that and then they also get jobs when they’re eligible for jobs, then young people, their optimism, their future transforms countries.”

Follow Ian Hanchett on Twitter @IanHanchett