Rethinking Development Finance
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 layi...
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| Format: | Speech |
| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/624241536573617950/Speech-by-World-Bank-Group-President-Jim-Yong-Kim-Rethinking-Development-Finance http://hdl.handle.net/10986/31099 |
| Summary: | 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. |
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