In a recent visit to the Hebei Province, World Bank Group President Ajay Banga witnessed firsthand China’s efforts in combating climate change and advancing rural revitalization. Attending the China Development Forum on March 24-25, Banga highlighted China’s transformative journey from a recipient of World Bank grants to becoming one of its largest donors.
“China’s evolution in global development is remarkable,” Banga remarked. “Not only has it significantly reduced domestic poverty, but it is also sharing valuable experiences with the Global South.”
During his visit, Banga engaged with local communities, observing sustainable agricultural practices and renewable energy initiatives. These efforts, he noted, reflect China’s commitment to addressing pressing global challenges such as persistent poverty and the climate crisis.
“China used to draw extensively from the World Bank’s knowledge base,” Banga continued. “Now, it contributes by sharing its successful strategies and lessons learned, which are being widely applied in developing nations.”
Banga emphasized the importance of collaborative efforts in tackling global issues. “The world is facing profound changes and rapid shifts,” he said. “It’s imperative that nations work together, leveraging shared knowledge and resources to overcome these challenges.”
The World Bank President’s visit underscores the organization’s recognition of China’s growing role in international development. By investing in sustainable projects and sharing expertise, China is helping to reduce inequalities and promote economic growth across the globe.
As the World Bank continues to draw on its financing capabilities and knowledge, partnerships with nations like China are crucial in making substantial differences worldwide. “Our collective actions today will shape the future,” Banga concluded. “By working together, we can create a more equitable and sustainable world.”
Reference(s):
cgtn.com
