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DPM CHOO Supports Ajay Banga’s Candidacy for World Bank Group President

  • DivisionDevelopment Finance Bureau - Development Finance Division
  • DateMarch 21, 2023
  • Tel044-215-8710

Call with WBG President Candidate


DPM CHOO Supports Ajay Banga’s Candidacy for World Bank Group President


Deputy Prime Minister Kyungho CHOO had a video conference call with Ajay Banga, U.S. candidate for World Bank Group (WBG) President, on March 21. The call was convened by request of Ajay Banga who was nominated to lead the WBG by the U.S. government on February 23. During the call, DPM CHOO celebrated his nomination for WBG presidency and exchanged views on a broad range of agenda items, such as the WBG’s future roles, its evolution plans and Korea-WBG cooperation, with WBG President candidate Banga.

DPM CHOO questioned about his views on the WBG’s future roles and evolution roadmap, underscoring that the Group’s role has become more important than ever in order to respond to increasing demand for support of global public goods amid climate change and the Covid-19 pandemic.

Agreeing on DPM’s statement, WBG President candidate Banga answered that if he is appointed as the President, he will be committed to devising the WBG Evolution Roadmap for reshaping the WBG’s visions and roles considering changes of global landscape.

DPM CHOO announced his support of Ajay Banga for WBG President based on his clear vision for the future of the WBG and his extensive relevant experiences in both private and public sectors.

In addition, DPM CHOO suggested two measures to strengthen bilateral cooperation between Korea and the WBG.

First of all, touting the WBG Korea Office as a best practice of bilateral cooperation, DPM CHOO asked for WBG President candidate Banga’s support and keen interest in the Korea-World Bank High Level Conference that is slated to be held during May 24 to 26 to mark the 10th anniversary of establishing the WBG Korea Office, the 60th anniversary of Korea’s five-year economic development plan, and among others.

Second, DPM CHOO requested his support for competent Koreans to be employed and become highranking officials at the WBG.

In response, WBG President candidate Banga expressed his gratitude for Korea’s support for his nomination to be the next WBG President, expecting to strengthen bilateral cooperation.

This call has allowed both sides to reaffirm the importance of bilateral cooperation to achieve the WBG’s missions of ending extreme poverty and promoting shared prosperity. They also concurred to continue their discussions on major issues through more frequent communication and various official events such as the WBG and G20 meetings.

Please refer to the attached pdf. 

Ministry of Economy and Finance
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