World Bank must help tackle global growth risks: New chiefJuly 3rd, 2012 - 1:41 pm ICT by IANS
Washington, July 3 (IANS) The World Bank has an economic and moral imperative to help address risks to global growth, no matter where they emerge, new World Bank group president Jim Yong Kim said here.
A strong global economy benefits all countries, and a weak global economy makes all countries vulnerable, Kim said in a statement released Monday, his first day on the job at the Washington-based agency.
“The global economy remains highly vulnerable. We need to boost confidence in markets and within the private sector. And we need to boost confidence among citizens that our economic system and policies can deliver more sustainable, fair and inclusive economic growth,” said the former president of Dartmouth College.
“My immediate priority will be to intensify the World Bank’s efforts to help developing countries maintain progress against poverty in these volatile times,” Xinhua quoted him as saying.
It is urgent that European countries take all necessary measures to restore stability because their actions will impact growth in all regions of the world, he added.
The Korean-American public health expert also stressed the importance of working with World Bank clients and partners to create a new economic firewall — one that protects people in developing countries against shocks.
“The World Bank substantially increased its lending during and after the global financial crisis. We must continue to build more effective and sustainable ways to ensure citizens have basic income protection, and access to education, health care and energy,” he said.
During a media roundtable meeting held Monday, Kim said he aimed at building the 188-member World Bank into a client-oriented agency and providing technical and other assistance to member countries.
Kim Sunday succeeded Robert Zoellick to lead the global development organization.
- Jim Yong Kim is new World Bank president - Apr 17, 2012
- Three candidates vie for World Bank presidency - Mar 24, 2012
- India says no BRICS candidate for World Bank - Mar 26, 2012
- Market-based growth is new World Bank chief's focus - Apr 17, 2012
- Profiles of candidates for World Bank president - Mar 24, 2012
- World Bank chooses U.S. candidate Jim Yong Kim as new president - Apr 18, 2012
- Obama nominates Jim Yong Kim to head World Bank - Mar 24, 2012
- World Bank chief should be selected on merit: BRICS - Mar 29, 2012
- World Bank chief Zoellick in India Monday - Mar 25, 2012
- World Bank needs reform: Colombian candidate - Apr 03, 2012
- US monopoly on World Bank presidency challenged (Lead) - Mar 24, 2012
- Russia to back US nominee as world bank chief - Apr 14, 2012
- India's growth helping global economy: World Bank chief - Jan 09, 2011
- Developing nations can have 8 percent growth rate - Apr 17, 2012
- IMF to explore options to combat global economic risks - Jan 18, 2012
Tags: american public health, bank clients, dartmouth college, development organization, economy benefits, education health care, firewall one, global economy, global financial crisis, global growth, group president, jim yong kim, member world, moral imperative, necessary measures, president jim, public health expert, robert zoellick, volatile times, world bank group