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World Bank Sets up Task Force to Study Recommendations of IEG on MDBs Reforms

Published on December 22, 2023
Current Context: The World Bank set up the task force to study the recommendations for strengthening multilateral development banks (MDBs) on December 20, 2023.
World Bank Sets up Task Force to Study  Recommendations of  IEG on MDBs Reforms
  • This initiative was set up under India’s G20 presidency.
  • The task force was announced by the World Bank’s group president, Ajay Banga.
  • The recommendations aim to strengthen MDBs and make these global lenders bigger, better, and bolder.
  • The World Bank, which other MDBs look up to, is expected to take the lead in carrying forward the reform roadmap for MDBs.
  • In addition to this, the World Bank has identified eight unique global challenges that require attention in the next few years.
  • The specifics of these challenges have not been elaborated upon.
  • India’s Finance Minister, Nirmala Sitharaman, has assured the World Bank of India’s support in this endeavor.

Question:

Q.1 Under whose G20 presidency was the task force established?
a. United States
b. China
c. India
d. Germany

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