Counting the Cost

Can the World Bank’s new president fix the institution?

World leaders are pushing for ‘fundamental’ reform of the World Bank to better tackle climate change.

For nearly 80 years, the World Bank has said its main goals have been to fight poverty and promote global prosperity.

But now, a growing number of world leaders are pushing for what they call a 21st-century overhaul of the institution to address global warming. That is being led by the leader of one of the world’s smallest nations, the prime minister of Barbados, Mia Mottley.

The job of leading that reform is now almost certain to fall to Ajay Banga, the first Indian-born nominee to the role of World Bank president.

Elsewhere, we look at why Samsung is cutting its production of semiconductors.