Devesh Kapur
As Ajay Banga prepares to take over as president of the World Bank, there is growing tension among the bank’s members. The United States has been pressing the bank to shift its focus to lending for climate change. But developing countries, faced with mounting development challenges and the prospects of another lost economic decade, want the bank to lend more for traditional national development programs. Underlying this discord is a fundamental reality: The bank simply does not have the resources to do justice to both goals.
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