President Joe Biden has been setting up different pieces to his long-term liberal agenda across the globe. When the World Bank needed someone to lead them, he knew his nomination would carry significant weight, and he could likely nominate anyone he wants. For him, this meant someone who might help with the transgressions of his family across the globe, as well as the problems created by his associates.
Enter the former head of Mastercard Ajay Banga.
Banga is the first ever Indian American to head the World Bank, and he will be replacing David Malpass. With the way that Malpass ruffled feathers by bringing up the human contribution aspects of global warming, despite that fight being one of their main causes, with an exceptional focus on smaller countries. By taking this less wasteful, more human-directed approach he has left a low bar for Banga, one he will easily clear. Starting on June 2nd, his work will be cut out for him as most of the globe battles inflation and many are not trusting the World Bank.
Born in India with a father in the Indian military, Banga did not follow in his father’s footsteps though. Instead, he began his career with Nestle and Citigroup before making the jump to Mastercard. There he seemed to have found his niche, staying with them for over a decade. It’s this time at Mastercard that got him cuddly with Biden and got Biden to put him in his inner circle.
The way Biden sees it, Banga “will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction — including climate change.”
When the World Bank made the announcement, its executive directors expressed their strong urge to work together with him on the problems across the globe, with a special focus on smaller and underfunded nations. Given its makeup of nearly 200 countries, it’s sort of like Make-A-Wish for nations, but it also is done with a lot more press and fanfare, especially when they get celebrities to join in.
However, even with these noble endeavors the organization is rife with problems and groups that are unwilling to trust them. With their track record of poor decision-making and corruption, it’s not a surprise they aren’t the most trusted across the globe.
As Biden and other global leaders want them to start loaning more money, thus far the World Bank has been resistant to go past the $100 billion they already dole out for fighting climate change annually. With their “experts” claiming that an increase to $1 trillion is the only way to make a change, there’s no doubt about why Biden made this pick.
Banga’s continued posh against “climate change” is something that many of these same developing countries are already fighting against. In their minds it’s not that there isn’t work to be done on pollution, but if they don’t fix the problem of people dying from poverty, then what good is a healthy planet? While they have a point, it’s no coincidence that both areas of focus are filled with more corruption than any political regime the globe has ever seen.
The decision to put Banga in isn’t one as pure as many would like to make it. During his 2010-2021 tenure, he spent most of that time working with Biden as the Vice President. The duo got very chummy and very deeply entrenched in others’ lives. When nations that Biden had an interest in needed financial help, suddenly Mastercard was quietly there making things happen. That’s from their relationship, and now at the World Bank, it will only continue.
Different levels of corruption exist across the globe. Biden has become one of the premier masters at embezzlement, insider trading, and profiting off the failures he drops in the laps of the American people. Now with his own puppet at the World Bank, he and his cronies can start “investing” in World Bank programs and pulling back much more than they give.
