10. Speeches of World Bank Presidents [collection under construction]

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Remarks at China’s 1+6 Roundtable with Premier Li Keqiang

(World Bank, Washington, DC, 2020-11-24) Malpass, David

World Bank Group President David Malpass spoke about the broad, rapid, and affordable access to Coronavirus (COVID-19) vaccines which will be at the core of a resilient economic recovery that lifts everyone. He mentioned that the World Bank Group’s forty-year engagement with China has been mutually beneficial and continues to evolve. He thanked China for its large contribution to IDA19, which is particularly noteworthy given China’s stage of development. He highlighted on the lending relationship with China which is also evolving steadily, with a strong focus on analytical and advisory services and strong engagement from the International Finance Corporation. He expressed that China’s economy needs further reform to get the most benefit as it returns to sustained growth. China’s Coronavirus (COVID-19) economic policy response has been weighted towards supporting firms and banks and encouraging public investment, in relative terms, while direct transfers to households have been limited. Greening of China’s growth going forward should form a core objective of the fourteenth five-year plan. Regarding progress on debt relief and transparency, he mentioned that private creditors have not been participating, leaving official bilateral creditors shouldering much of the burden.
Forty Years of Reform and Poverty Reduction: Remarks at the International Forum on China’s Reform and Opening Up and Poverty Reduction

(World Bank, Washington, DC, 2018-11-01) Kim, Jim Yong

Jim Yong Kim, President of the World Bank Group, spoke about the following: i) understand China’s journey and get the historical record right; ii) understand China’s past reforms, because they are important for future reforms; iii) understanding China’s reforms is increasingly important for the rest of the world; iv) china’s reform and opening up program, which was the foundation for the rapid growth that allowed people to lift themselves out of poverty; v) a focused and sustained effort targeted at poverty reduction throughout the reform period.
Speech at the Session on China’s Economy, Promoting Reforms in Major Areas, and Accelerating the Shift in Driving Forces for Development

(World Bank, Washington, DC, 2017-09-12) Kim, Jim Yong

Jim Yong Kim, President of the World Bank Group (WBG), offered several strategic considerations for China. First, for the foreseeable future, removing distortions and accelerating diffusion will remain major sources of growth. Getting the basics right – structural reforms in key markets, further improving the broader business environment, ensuring fair competition, and investing in broad-based skills of the labor force – should help drive growth. Second, China should consider how to balance industrial policies with the notion of the third plenum, that the market should play a decisive role in resource allocation. Third, like other countries, China needs to prepare for how technological change will impact the labor force. He concluded by saying that China’s leadership has been critical to promoting an open, competitive global economy.
Remarks at the Belt and Road Forum for International Cooperation

(World Bank, Washington, DC, 2017-05-14) Kim, Jim Yong

Jim Yong Kim, President of the World Bank Group, is inspired by Belt and Road Initiative, which will improve trade, infrastructure, investment, and people-to-people connectivity – not just across borders, but on a trans-continental scale. It has the potential to lower trade costs, increase competitiveness, improve infrastructure, and provide greater connectivity for Asia and its neighboring regions. To ensure the Belt and Road Initiative’s success, we need to remember these things: First, because of the Initiative’s sheer size, the estimated investment needs will be large. Second, individual countries are at different stages of development, with varying capabilities, constraints, and risk profiles. They will need support mechanisms to define and meet consistent, satisfactory standards. Third, the benefits of the Belt and Road Initiative are broader than one project or one country. Projects will require innovative financing mechanisms – a mix of public and concessional finance and commercial capital. Finally, our decades of experience with large infrastructure projects suggest that project preparation and appropriate risk allocation will be critical for success.
Remarks at the Second Investing in Africa Forum

(World Bank, Washington, DC, 2016-09-07) Kim, Jim Yong

Jim Yong Kim, President of the World Bank, discussed the partnership to promote development, investment, and multilateral cooperation in Africa. There are ample opportunities to accelerate growth, productivity, and Africa’s economic transformation. He pointed to four key things: first, close the large gap in infrastructure -- in roads, energy, water, sanitation, broadband, and transport; second, make agriculture more productive; third, improve the fundamentals needed to accelerate industrialization; and fourth, invest in people – in health and education – which is increasingly vital in the digital age. He believe the partnership will continue, and this relationship will help millions of people lift themselves out of poverty and realize opportunities for a better life.
New Approach to Economic Challenges

(World Bank, Washington, DC, 2016-07-24) Kim, Jim Yong

Jim Yong Kim, President of the World Bank, spoke about economic challenges requiring a new approach. Growth forecasts are modest and risks are increasing. The reform agenda includes fiscal and monetary policies to support demand, more investment in infrastructure, further integration in the world economy, structural reforms in labor markets, the financial sector, and the business climate to better allocate resource, and investment in innovation systems to accelerate technical change. One key drivers of discontent is rising inequality. The productivity slowdown and rising inequality are related. The challenge is to create wealth with reasonably equal distribution to sustain the momentum for reform. This will require active labor market policies and retraining. We will need infrastructure that connects people. We need to invest more in people. Concessional finance can provide the leverage for these reforms. We need to commit to creating a world in which truly there is equality of opportunity.
Opening Remarks at Press Conference in Beijing, China, July 17, 2015

( 2015-07-17) Kim, Jim Yong

These remarks delivered by Jim Yong Kim, President of the World Bank Group, discuss the Chinese economy, China's global role in development, and the latest report on health care reform. He appreciated China, that remains the largest contributor to world growth since the global financial crisis. He talks about the progress made by China in several reforms, including lower credit growth, better regulation of shadow banking, and better management of local government borrowing and these reforms hold the key to its continued economic success. He addresses huge infrastructure needs that are critical to end poverty, reducing inequality, and boosting shared prosperity in the world and China's committment to support financially for the same. He concludes by talking about more efficient health care system in China that will lead to a healthier population, boost economic growth and become an engine for job creation.
A Global Perspective: Tackling Three 'Intractable' Challenges Facing the World

( 2015-06-09) Kim, Jim Yong

Remarks delivered by Jim Yong Kim, President of the World Bank Group, at Goethe University, Frankfurt, Germany, discuss applying the world’s best ideas, knowledge, and experience in development to accomplish the World Bank Group’s twin goals of ending extreme poverty by 2030, and boosting shared prosperity. He speaks about helping the poor and vulnerable in low- and middle-income countries in the world not only for poverty reduction within their borders, but is important for growth around the world, especially going forward. He talks about the strategy to invest in people, especially through education and health. He stresses investments in girls and women as particularly important because they have a multiplier effect on the well-being of the extreme poor. He speaks about protecting people from deadly pandemics especially in developing countries. He insists the students that they must apply what they have learned, and must do, for the sake of the poorest, for the children, and for the sake of our humanity.
Remarks at the Development Committee Press Conference, IMF-World Bank Annual Meetings, Washington, D.C., October 11, 2014

( 2014-10-11) Kim, Jim Yong ; Lagarde, Christine

Jim Yong Kim, President of the World Bank Group, discusses the problem of global inequality. He speaks about the commitment for building the platform which would bring the expertise of not only the World Bank, but the International Monetary Fund (IMF) and other multilateral development banks, to prepare projects and bridge the gap in what is a market failure. He speaks about the companies that were represented, sovereign wealth funds, the countries that had signed on, including China, which has made very strong commitments to finding a price on carbon for the world. He highlights about the need for some source of funding that will disperse immediately on the occasion of the next epidemic, and the global community needs to come together to decide what the response will be. Christine Lagarde, IMF Managing Director, commended Kim on his efforts in the fight against Ebola. Lagarde noted that much of Africa is growing and creating jobs. The two fielded questions on Ebola, the role of China in these institutions, China’s investment-led growth strategy, and the Asian Infrastructure Investment Bank.
Opening Press Conference at the IMF-World Bank Spring Meetings, April 10, 2014

( 2014-04-10) Kim, Jim Yong

Jim Yong Kim, President of the World Bank Group, notes that the developing countries will have to grow at a pace stronger than any time in the past 20 years to achieve the goal of ending the extreme poverty by 2030. He talks about the need for growth that is inclusive, creates jobs, and assists the poor directly. He calls for ensuring economic growth in the years ahead that is sustainable and takes us off the destructive path of climate change. He focuses on providing the best services possible in countries by keeping a strong presence in country offices and by providing global solutions to local problems. He is optimistic that countries and their partners will take it on, seize this opportunity and erase this stain of extreme poverty from our collective moral conscience once and for all. He fielded questions about China urbanization, Russo-Ukrainian tensions, Ghana’s dependence on the U.S. market, quality versus quantity of development aid, Middle East prospects, World Bank programs in Egypt, poverty in Paraguay, increased fees for advisory services, use of financial intermediaries, and climate change.