World Bank Launched Various initiatives at the COP28 summit

Current Context: The World Bank President Ajay Banga outlined a bold initiative on reducing methane pollution with his remarks at COP28 in Dubai. He announced that the World Bank will provide $1 billion over five years to help 20 developing countries reduce their methane emissions by 30% by 2030.

• He also highlighted the World Bank’s partnership with Microsoft to use artificial intelligence and satellite imagery to monitor and verify methane emission reductions.
• The World Bank Group Pavilion at COP28 hosted an event called “Back on Track: The Critical Path to 1.5ºC by Bending the Methane Curve” on December 2, 2023.
• The event featured speakers from various sectors and regions who shared their experiences and solutions for reducing methane emissions.
• The event also showcased some of the World Bank’s projects and programs that support countries to access tailored solutions, affordable technologies, and much-needed finance for methane mitigation.
• The World Bank is expected to launch a new fund during the two-week COP28 summit, with backing from independent oil companies among others, for detection and cleanup programs in developing countries that are major methane emitters, such as Turkmenistan.
• The fund will aim to help these countries reduce their methane emissions by up to 50% by 2030, while ensuring their economic development and social stability.

Question:

Q.1 Who is the President of the World Bank who outlined a bold initiative on reducing methane pollution at COP28 in Dubai?
a. Jim Yong Kim
b. Ajay Banga
c. David Malpass
d. Kristalina Georgieva