ALT President Joe Biden recently congratulated Ajay Banga on his approval as the new World Bank President by the organization’s board of governors. According to a statement from the White House, Biden welcomed Banga’s appointment, noting that the new president would be a transformative leader with expertise, experience, and innovation to tackle global challenges. As the world battles with poverty and climate change, Banga’s appointment assumes a crucial position in addressing these issues. In his statement, President Biden highlighted that Banga would work together with the World Bank leadership and shareholders to steer the institution as it evolves and expands to address global challenges that affect its core mission of poverty reduction.