Peking University, December 18, 2024: On December 9, Ajay Banga, President of the World Bank Group, visited Peking University for a Fireside Chat with students and faculty. The event, held at Sunshine Hall in the Yingjie Exchange Center, was moderated by Professor Liu Qiao, Dean of the Guanghua School of Management, and featured insights into Banga’s career, reflections on global challenges, and advice for the next generation of leaders.

The World Bank delegation included Manuela V. Ferro, World Bank Vice President for East Asia and Pacific, Chang Junhong, World Bank Executive Director for China, and Mara Warwick, World Bank Country Director for China. They were accompanied by Liao Min, China’s Vice Minister of Finance.

Hao Ping presenting a token of appreciation to Banga 

Hao Ping, Chair of the Peking University Council, extended a warm welcome to the delegation, alongside senior administrators, including Dong Zhiyong, Vice President and Dean of the School of Economics; Fang Fang, Vice President; and Jiang Guohua, Vice Chair of the University Council. 

Hao stated that Peking University has maintained a long-term and close cooperation with the World Bank. The University has cultivated a large number of talents in finance, economics, business administration and related areas and is willing to develop further exchanges and collaboration with the World Bank.

The visit drew participation from prominent academics such as Justin Yifu Lin, Dean of the New Structural Economics Institute and Honorary Dean of the National School of Development, who previously served as the Chief Economist and Senior Vice President of the World Bank. Representatives from the Guanghua School of Management, National School of Development, School of International Studies, School of Economics, School of Education, Yenching Academy, and the Office of International Relations were also in attendance.  

Attentive audience at the Fireside Chat

Approximately 250 faculty and students came to the Fireside Chat to explore pressing global issues and opportunities for collaboration in education and development. The discussions reaffirmed a shared commitment to addressing global challenges through knowledge exchange and partnership.

Banga first thanked the University for the warm reception and encouraged more PKU graduates to consider a career at the World Bank, where they can make an impact on global development. He also shared a few highlights of his career at Nestlé and Mastercard before joining the World Bank. 

Banga introduced the five sections of the World Bank and how the organizational structure was set up to provide loans to countries and regions for their economic development.  He emphasized the World Bank’s role not just as a monetary bank but also as a “knowledge bank”, echoing its mission to provide the assistance in fiscal education, guiding countries to produce additional jobs and opportunities for citizens globally.

Drawing a parallel between the World Bank and institutions like Peking University, he highlighted the importance of collaboration in addressing challenges such as poverty, food security, and sustainable development. He detailed how the World Bank has improved healthcare access for millions in the poorest nations, underscoring the need for even faster innovation and progress. 

Banga also highlighted the organization’s partnerships with private and public sectors to tackle pressing issues like global hunger, climate change, and debt sustainability.

Banga addressing the audience

Banga commended China’s remarkable transformation over the past four decades in partnership with the World Bank, especially in poverty reduction. He believes China’s experiences, for instance in creating jobs and in environmental protection, are inspiring examples of growth and development for the global community.

Addressing the students, Banga encouraged them to pursue careers that bring genuine happiness and meaning. 

“You only have one life, and that’s valuable,” he said. 

He urged them to value humility, humor, and decency, stressing kindness and a willingness to help others, while warning against arrogance and believing one knows it all. Banga also emphasized the importance of listening to and understanding others, qualities he deems essential for effective leadership. He again warmly encouraged more Beida graduates to join the team at the World Bank.

Q&A Session

The event concluded with a Q&A session, where students raised questions on topics ranging from food security to regional development in Africa. Banga highlighted the World Bank’s support for smallholder farmers and its focus on creating jobs to address Africa’s youth demographic boom. He stressed the importance of collaboration among economic blocs.

Banga’s responses offer valuable perspectives on global development and personal growth. His visit underscored Peking University’s responsibility as a hub for critical dialogue on global challenges, providing a great opportunity for faculty and students to engage with world leaders.

Written By: May Thu Htet, Lee Jie Xin
Edited by: Sean Tan, Megan Huang, Zhang Jiang