Ajay Banga

is to do targeted subsidies to those who are the most affected in the poorest sections of society, preferably through digital distribution means.

Many countries across the emerging markets, not just in India or parts of Africa, but many countries now have digitized ways of being able to distribute targeted benefits to people.

And that kind of thing is what I'm referring to rather than blanket subsidies.

Well, we started as the International Bank of Reconstruction and Development.

So reconstruction is what we do.

I think Ukraine, that's the other one.

Yeah.

Gaza.

Ukraine is much bigger in terms of dollar value than these other ones currently put together.

Depends how far the Middle East goes.

Remember that the richer countries in the Middle East are not going to need our help.

on monetary terms.

They can certainly use our help in knowledge and expertise, but not monetary.

In fact, they're great partners the other way for us.

They put money into us to help the developing world.

But in Ukraine and Gaza and the like, and Lebanon, it's very different.

Yes, I presume that we'll have a role to play there.

You know, we're actively involved with Ukraine and Gaza anyway.

Not really.

But the last so many years, we've been lending in two or three currencies principally, four actually, the euro, the yen, the pound, and the US dollar.