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

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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.
Development Committee Closing Press Conference

( 2014-04-12) Belka, Marek ; Kim, Jim Yong ; Lagarde, Christine

Marek Belka, Chairman of the Development Committee, stated that there was a very broad, uniform support for the twin goals of the World Bank Group. He noted the resounding support for internal reforms at the World Bank Group. Jim Yong Kim, President of the World Bank Group, spoke about the change process and the success in developing and bringing together Global Practices and cross-cutting solution areas throughout the world. He noted the IDA replenishment and new financial arrangements that will allow increased lending in the next few years. He concludes by noting the need for a carbon price and the need to reduce fossil fuel subsidies, the importance of energy efficiency and improved performance standards, and and also long-term finance for renewable energy. Christine Lagarde, IMF Managing Director, affirms that the IMF will continue to work on the issues of inequality, gender inclusion, growth, and the job market, and the fiscal aspect of climate change and how those matters of macroeconomic criticality can be addressed using fiscal tools. They fielded questions on IMF governance reform, the impact of technological change on employment, and the pace of the Global Infrastructure Facility.
Development Committee Closing Press Conference

( 2013-10-12) Belka, Marek ; Kim, Jim Yong ; Lagarde, Christine

Jim Yong Kim (President of the World Bank Group), Christine Lagarde (Managing Director of the International Monetary Fund), and Marek Belka (Chairman of the Development Committee) made opening statements. Belka emphasized that the twin goals of ending extreme poverty and promoting shared prosperity must be pursued in a sustainable manner. Over the past six months, we have witnessed intensive consultations and analysis designed to put the flesh on the bones--to work out a detailed strategy by which the Bank Group will set out to translate the goals into operational programs with its borrowing member countries. Kim highlighted one major shift in the strategy—leveraging IDA to increase investment in fragile states. Lagarde focused on growth in Sub-Saharan Africa, including increased technical assistance. Replenishment of the Poverty Reduction and Growth Trust fund has passed the 90 percent threshold. Media raised questions on emerging markets, the Mexican economy, global growth, tapering, unconventional monetary policy, U.S. growth.