Hello, inquisitive reader! Are you familiar with the World Bank? It’s not a place where you can deposit all of your pocket money, but it’s an important organization that helps countries all over the world.

World Bank has picked a new leader to be their 14th president, and his name is Ajay Banga. He’s going to be taking over from the current president, David Malpass.

Now, Ajay Banga is not your average Joe. He’s a super successful businessman who used to be the CEO of Mastercard. That’s the company that makes those little plastic cards you use to buy things with. Imagine being able to buy as many ice creams as you want without having to worry about running out of cash!

Important Details

• Mr. Banga is going to be the first person from a developing country to be the president of the World Bank, which is a pretty big deal. It means that the organization is trying to make sure that people from all over the world have a say in what they do.
• One of the things that the World Bank does is give money to countries to help them out. But it’s not like they just give it away for free. They want to make sure that the countries use the money wisely and don’t waste it. That’s where Mr. Banga comes in. He’s really good at making sure that companies don’t waste their money, so he’ll probably be really good at making sure that countries don’t waste theirs.
• Ajay Banga is also a big supporter of education and believes that everyone should have the opportunity to learn and grow.
• He is fond of traveling and has explored numerous countries globally.
• So, there you have it, kiddo! The World Bank has a new president, and he’s a really smart guy from India. Hopefully, he’ll be able to help the organization do even more good in the world.

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How would you describe the activities of the World Bank?