US Vice President Kamala Harris meets World Bank chief Ajay Banga

This meeting was the first official US engagement since President Banga took charge of the office.

Washington: Vice President Kamala Harris called on World Bank President Ajay Banga at the White House.

This meeting was the first official US engagement since President Ajay Banga took charge of the office.

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At their meeting, the Vice President underscored the Biden-Harris Administration’s strong support for World Bank efforts to make investments and spur policy reforms that reduce poverty and advance achievement of the Sustainable Development Goals, the White House informed in a statement.

Harris praised the steps taken to evolve the World Bank–including expanding its mission to include building resilience to global challenges like climate change, pandemics, fragility and conflict.

She underscored that addressing these global challenges is interlinked with and indivisible from the Bank’s work to eliminate extreme poverty and promote shared prosperity. The Vice President welcomed President Banga’s commitment and high ambition in driving forward this evolution initiative, the statement added.

The Vice President conveyed the United States’ intention to work with World Bank shareholders and President Banga in the leadup to the September G20 Leaders Summit.

Recognizing that the public sector alone cannot meet the immense development needs, the Vice President also underscored our commitment to work with the World Bank and other shareholders to develop and implement an action plan to raise the level of ambition in mobilizing private investment, according to the White House.

The Vice President discussed with President Banga her work around the world, from Southeast Asia to Africa to the Caribbean. In particular, as the Vice President has made clear in this and other meetings, countries should have access to the finance and tools they need to accelerate the clean energy transition and build resilience to shocks.

The Vice President and President Banga also discussed ongoing work to galvanize private investment in developing countries, particularly in Central America and Africa. This meeting comes just before the Vice President’s upcoming trip to The Bahamas on June 8 to participate in the US-Caribbean Leaders Meeting, alongside President Banga, where she will further discuss the US commitment and actions to support sustainable and inclusive economic development in the Caribbean.

To this end, she raised the importance of all creditors offering Climate Resilient Debt Clauses to allow a temporary suspension of debt service after a natural disaster, the statement added.