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Will Ajay Banga be an ambassador for the Global South?

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In recent years, the World Bank has been the subject of harsh and frequent criticism, accused of being unable to keep pace with financing needs, its cumbersome bureaucracy and the administrative bottlenecks that hamper its effectiveness.

It currently takes an average of 27 months before a single dollar is disbursed for a project, and sometimes more than 10 years before any tangible benefits are seen.

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