World Bank must drive private investment in climate transition: Banga

WASHINGTON: The World Bank must use"informed risk-taking" to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president Ajay Banga said on Sunday .

"The only way forward is to find a way to get the private sector to believe that this is part of their future," said Banga, who will visit Peru and Jamaica this week as part of a tour to visit countries in every region where the bank operates. "That's kind of a thing that we can do with informed risk-taking," Banga said, noting that renewable energy was now cheaper in many cases than fossil fuels due to improvements in storage and duration.

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World Bank needs new playbook to boost private investment in emerging markets - Banga(Corrects name of program to CNN's 'Fareed Zakaria GPS', not CBS's 'Face the Nation' in paragraph 2, changes CBS to CNN in penultimate paragraph)By Andrea ShalalWASHINGTON :The World Bank must use 'informed risk-taking' to encourage private investors to get more engaged in helping developing countries
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World Bank needs new playbook to boost private investment in emerging markets, new chief saysWASHINGTON : The World Bank must use 'informed risk-taking' to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president, Ajay Banga, said on Sunday.Banga told CNN's 'Fareed Zakaria GPS' program that
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