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  • Publication
    Opening Remarks at the 2019 Annual Meetings Opening Press Conference
    (World Bank, Washington, DC, 2019-10-17) Malpass, David
    David Malpass, President of the World Bank Group, highlighted the urgent priorities for discussion with shareholders. Global growth is slowing. Investment is sluggish, manufacturing activity is soft, and trade is weakening. The challenges of climate change and fragility are making poor countries more vulnerable. This backdrop makes our goals of reducing extreme poverty and boosting shared prosperity even harder. He suggested that with the right mix of policies and structural reforms, countries can unleash growth that's broadly shared across all segments of society. He spoke about how the Bank is helping countries build strong programs tailored to the unique circumstances of their economies. He highlighted the importance of education. He mentioned the proposed IDA replenishment, and reaffirmed commitment to projects on climate and on gender inclusion. In conclusion, he said that the well-designed structural reforms are needed to unlock growth and build the foundations for future prosperity.
  • Publication
    Remarks at Media Roundtable during Annual Meetings 2019
    (World Bank, Washington, DC, 2019-10-16) Malpass, David
    David Malpass, President of the World Bank Group, fielded questions from the media. He spoke about fundraising for the nineteenth replenishment of IDA. He explained the importance of debt transparency. He discussed the World Bank's role in Ukraine in terms of land reform, the reform of the financial system, reform of state-owned enterprises, reform of the of Ukraine's fiscal structure, and related issues. He discussed the Bank’s work on climate change and the environment. He highlighted the sluggish growth of investment in developing countries, but with good policies, countries can find a way to go against the trend and improve their growth outlook. He commented on trade facilitation and trade integration in Africa. He cautioned about the slowness of world trade growth and its implications on developing countries.
  • Publication
    Remarks at the 2018 Annual Meetings Plenary
    (World Bank, Washington, DC, 2018-10-12) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, discussed reducing poverty by using a three-pillar strategy. First, drive inclusive, sustainable economic growth by crowding in private sector investment, help countries manage debt levels, and harness the power of technology like FinTech. Second, build resilience to shocks and threats by taking urgent action on climate change, and help countries share the risks of disasters with the capital markets. Third, help countries invest more, and more effectively in their people to prepare for what is certain to be a more digitally-demanding future. He spoke in length about Human Capital Index.
  • Publication
    Rich and Poor: Opportunities and Challenges in an Age of Disruption
    (World Bank, Washington, DC, 2018-04-10) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, spoke about how before 1800 everybody was poor and lived in poverty. He referred to the young people now who may not own a smart phone, but who have access to smart phones. By 2025, as many analysts are saying, the entire world will have access to broadband. He examined three ways to end extreme poverty, that is, people living under 1.90 US dollars a day, by 2030. First, focus on inclusive, sustainable economic growth. Second, focus on fostering resilience to pandemics, climate change, refugees, fragility, conflict, and violence. Third, invest more and more effectively in people.
  • Publication
    Remarks at the National Press Club Headliners Luncheon
    (World Bank, Washington, DC, 2017-11-20) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, discussed building new foundations of human solidarity, at a time when those foundations are questioned and even under attack. Peace and stability are critical to our efforts to grow economies and help people lift themselves out of poverty. He reviewed the work of the World Bank Group, especially over the past three decades, and outlined the pillars of the current strategy: accelerating inclusive, sustainable economic growth, building resilience to overlapping shocks and crises, and investing more and more effectively in people.
  • Publication
    After the Storm: Recovery and Resilience in the Caribbean
    (Washington, DC: World Bank, 2017-10-13) Kim, Jim Yong; Mohammed, Amina; Mitchell, Keith; Bibeau, Marie-Claude; Patel, Priti; Green, Mark
    At this high-level roundtable, Jim Yong Kim, President of the World Bank Group, suggested three actions at the outset. First, in the wake of disasters like Irma and Maria we should channel resources quickly, flexibly, efficiently, and ensure that they reach those most adversely affected. Second, we need to make sure that we use all existing instruments and knowledge to help build resilience. Third, we need to think creatively and come up with innovative solutions to compounded challenges of the Caribbean: high vulnerability, low growth, and high debt. This could include designing debt for resilience initiatives, mobilizing innovative risk financing tools to better manage fiscal risks related to disorders, and mobilizing private sector participation in working out solutions.
  • Publication
    Speech at the 2017 Annual Meetings Plenary
    (World Bank, Washington, DC, 2017-10-13) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, discussed the following topics: 1) actions needed to grow the economies and compete in what will be a more complex, demanding, and digitized future; 2) three ways to end extreme poverty by 2030, and boost shared prosperity among the poorest 40 percent around the world: a) accelerating inclusive, sustainable economic growth, b) building resilience to shocks and threats, and c) investing more and more effectively in people.
  • Publication
    Speech at the Session on New Challenges and Solutions for the World’s Sustainable Development
    (World Bank, Washington, DC, 2017-09-12) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group (WBG), spoke about how the global economy as a whole is in a period of strengthening growth, and this momentum in growth is driven by global manufacturing activity and trade, broadly stable financing conditions, and stabilized commodity prices. Escalating trade protectionism in major economies threatens to derail the rebound in global trade. He explained the severe consequences, especially for emerging markets and developing economies (EMDEs) that rely on trade for growth and development. He insisted on the need to maximize financing for development by leveraging the private sector and optimizing the use of scarce public resources. He spoke about the development of the joint principles for crowding in private sector finance. Crowding in private finance should free up public funds to invest more in people. He concluded by saying that WBG can make the global market system work for everyone through sustainable development, including inclusive economic growth, investing in people, and building resilience to shocks and threats.
  • Publication
    Remarks at World Bank Group-IMF 2017 Spring Meetings Opening Press Conference
    (World Bank, Washington, DC, 2017-04-20) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, answered media questions at the 2017 Spring Meetings Press Conference 2017. He discuss the global economy. He mentioned that the bank faces several overlapping crises, both natural and man-made, all of which add urgency to the mission. He estimated that two-thirds of all jobs that currently exist in developing countries will be wiped out by automation. He seeks new and innovative ways to reach the poor, and make the world more secure and stable. He starts to address a problem by by asking whether the private sector can finance a project.
  • Publication
    Rethinking Development Finance
    (World Bank, Washington, DC, 2017-04-11) Kim, Jim Yong
    Jim Yong Kim, President of the World Bank Group, spoke about the forces in the world that are making us fundamentally rethink the approach to development at the World Bank Group. He described three paths. The first path is to accelerate inclusive and sustainable economic growth, by laying the foundations for more effective public services, by improving governance and tackling corruption, by accelerating infrastructure investment, by lowering real and perceived risks for private investment, by making trade work for everyone, and by creating markets to bring the benefits of private sector rigor and innovation to developing countries. The second path is to invest more, and more effectively in people; the premium on human capital will get higher and higher every year. The demands for digital competency are accelerating. Investing in human development must start early – by ensuring that pregnant women have access to prenatal healthcare, including the right nutrition; by preventing malnutrition in children, so they can develop properly; by ensuring access to quality health care for all; by providing education that prepares students for the jobs of the future; and by building social safety nets that meaningfully protect the poor. The third path is to foster resilience to global shocks and threats. We’re living in a time of multiple overlapping crises: pandemics, climate change, refugees, famine. It is critically important to help countries prepare for these crises.