Mirian Gom 
World Bank President, Ajay Banga
Oluwatobi Adu
ABUJA, Nigeria – World Bank Group President, Ajay Banga has announced a $100 billion boost to the lender’s financial capacity to accelerate job creation and spur economic growth in developing nations.
Banga shared the development on Tuesday following the 2025 World Bank and International Monetary Fund Annual Meetings in Washington, saying the institution had restructured operations to deliver “faster, simpler, and more effective” results.
“The mission is jobs,” Banga said. “A job is more than a pay cheque; it is dignity, purpose, and stability.”
He explained that the reforms — including streamlined project approval, unified country leadership, and a stronger Knowledge Bank — had unlocked $100 billion in additional lending capacity. The changes also enhance collaboration with the private sector and other multilateral banks.
Banga warned that developing countries stand at a critical crossroads, with over 1.2 billion young people expected to enter the global workforce in the next 15 years, competing for only 400 million jobs.
“Four young people will step into the global workforce every second,” he said. “Without purposeful effort, optimism may turn into despair, fuelling instability and migration.”
He stressed that employment must anchor all development and national security strategies.
“With the right investments — focused on opportunity, not just need — we can unlock a powerful engine of global growth,” Banga said.
About the Author
Hussaini Ibrahim 
Chukwu Obinna 
Koko Maxwella 
Otamere Gladness