Report shows country has slid into a protracted financial crisis, with Syrian refugee population hit particularly hard.
Lula also takes over at a time of bitter internal divisions in the group, legacy of outgoing president Narendra Modi.
The financial international institutions are holding a summit in the earthquake-hit North African country.
Two-thirds of developing economies will see lower growth than in 2022, dealing a major setback to pandemic recovery.
Ajay Banga told employees his vision was ‘to create a world free from poverty on a livable planet’.
Part grant, part loan, the money is drawn from the bank’s existing projects for Mozambique.
He replaces Malpass, who was criticised for his stance on climate change and will step down nearly a year early.
World leaders are pushing for ‘fundamental’ reform of the World Bank to better tackle climate change.
World Bank said the figure of $411bn over the next 10 years should be considered a minimum as the war continues.
Instead of curbing poverty, as its mission outlines, the bank entrenches inequality. Its US-led governance is to blame.
Moscow consulting with allies about challenging ex-Mastercard CEO Ajay Banga, Russian media report says.
Financial viability of many countries is being threatened by unsustainable debt, Indian PM says at two-day G20 meeting.
India-born Banga has close ties to emerging markets, useful to the Bank which wants to help them on pressing problems.
Predicting a difficult year ahead, bank revises nation’s growth from 4 percent last year to 2 percent in current fiscal.
