'You Give People Jobs': World Bank Chief Ajay Banga's Solution To Kill Poverty

Last Updated:April 21, 2026, 18:09 IST

Ajay Banga said the solution to poverty is “very simple” and lies in expanding job opportunities across all levels of society.

World Bank President Ajay Banga has said that the most effective way to end poverty is to create jobs, stressing that employment brings not just income but also hope and stability.

Speaking on the ‘People by WTF‘ podcast hosted by Nikhil Kamath, Banga said the solution to poverty is “very simple" and lies in expanding job opportunities across all levels of society.

“Make jobs for young people, create jobs… it’s very simple — it’s to kill poverty," Banga said. “The best way to get rid of poverty, the best way to put a nail in the coffin of poverty, is to give somebody a job."

He explained that a job is not limited to formal employment, but also includes entrepreneurship, farming, and small business activity. According to him, what matters is that people have earnings that allow them to live with dignity and support their families.

The World Bank head further noted that having a job gives an individual “hope and optimism", saying these are key drivers of human behaviour that are often underestimated in economic policy, adding, “The idea of having earnings is what I’m talking about."

ALSO READ: ‘Shaking Hands With Devils Of Genocide’: Pro-Palestine Activist Slams World Bank Chief Ajay Banga

During the conversation, Kamath questioned whether global poverty was also linked to unequal distribution of wealth rather than lack of resources. Banga, however, rejected the idea that redistribution alone can solve the problem.

He said wealth creation, not redistribution, is the main driver of development. “I believe that what creates wealth, first of all, is entrepreneurship and the private sector," he said, adding that governments play a crucial role in building infrastructure, education systems and regulatory frameworks that allow businesses to grow.

“85 to 90% of jobs in the world are created in some form or the other in the private sector or in private sector-oriented enterprises in the state-owned sector. That’s kind of how this happens," he added.

Banga noted that the majority of global jobs are created by private sector activity, especially small and medium enterprises. He said economic growth depends on enabling these businesses to succeed rather than focusing only on shifting existing wealth.

Instead of redistributing wealth, he said economies should focus on expanding opportunities. “You need to find a way to not lower the water in the river, but to actually raise the water in the river so boats can float higher," Banga said.

News world 'You Give People Jobs': World Bank Chief Ajay Banga's Solution To Kill Poverty

Read More