The World Bank has a new president. His name is Ajay Banga and he is now responsible for a lot of money. If that money is used strategically, it could help tackle the world’s biggest problems: Extreme poverty, climate change, gender equality, pandemic preparedness and access to routine healthcare.
But in order to use that money wisely, the World Bank needs a few reforms.
To welcome Ajay and help him get started on this crucial work right away, our policy experts here at the ONE Campaign created a 10-point plan for him. Leading economists, activists, and leaders have signed on to this plan — and you should too.
After all, the World Bank was created to address global issues that impact you. And it‘s funded by your government.
So think of Ajay as the bank manager with the power and responsibility to fix the global issues you care about most.
Will you join us in pushing for real change? Add your name to help us welcome Ajay and let him know we‘re counting on him.
Here’s what we’re asking for:
1. Make sure the World Bank has concrete goals
Ajay’s first step is setting the World Bank up for success. He can do so by clearly establishing goals to address hunger, poverty, and conflict and to build resilient, sustainable societies that can tackle climate change, inequality, and pandemic threats.
2. Increase lending
This is a time of unprecedented need. And that requires unprecedented funding. The World Bank has the power to do this, and there are no excuses not to. With inequality and rates of poverty increasing, progress on gender equality stalling, and climate change impacting everyone, it’s time to step up.
3. Speed up lending
To have a real impact, the World Bank also needs to move faster. It can do that by halving loan approval times.
4. Listen to the people you’re meant to serve
Ajay needs to understand what leaders and communities around the world want from a modernized World Bank. It’s especially important to listen to those who have previously been left out of the conversation, including leaders and citizens from low-income countries.
5. Don’t get in your own way
The World Bank needs some crucial reforms to how it lends (our Policy team has broken down all the specifics). Without these reforms, the World Bank may prevent itself from fulfilling its mission.
6. Lead by example
The World Bank isn’t the only global player that aims to tackle poverty and support global growth. But it is the biggest. So leading by example is crucial in bringing others along the same path.
7. Bring gender equality to leadership at all levels
The research is clear: More female leadership benefits everyone.
8. Bring citizens into decision-making
They have the best perspective on local issues, and they should have the opportunity to drive solutions.
9. Restore credibility and share the knowledge
A bank is only as good as its credibility. The World Bank should be known for top-class research and knowledge products.
10. Bring the World Bank to the world
Ajay should also establish a group of senior leaders from the media, philanthropy, national security, and the advocacy community to help guide the way.
You can read the full open letter and see the full list of all the leading voices who have signed our pledge to demand more change. And add your name now to help us push for real change.