Trump Understands Value of Financial Institutions, Says World Bank Chief

World Bank President Ajay Banga on Tuesday said former President Donald Trump understands the value of international financial institutions and how their lending can lead to expanded markets for American companies overseas.

Asked about potential consequences for the World Bank if Trump - a critic of multilateral institutions and efforts to combat climate change - wins the Nov. 5 presidential election, Banga struck a sanguine tone.

"President Trump was the one who actually authorized a capital increase in the IBRD (International Bank for Reconstruction and Development) when he was in the office," Mr Banga said. "At the end of the day, he understands the value, if you can put it in the terms that make sense for what he's trying to get done, for his administration's policies."

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