World Bank chief praises S Korea ahead of visit

Saturday, October 13, 2012
Jim Yong Kim while speaking at 2012 Annual Meetings 
Washington: World Bank Group President Jim Yong Kim will make his first official visit to South Korea from October 14th -16th to reinforce the Bank’s strong partnership and discuss ways to enhance collaboration to bring innovative solutions and resources to developing countries around the world.

Speaking ahead of his visit, Kim praised South Korea as a compelling example of a development success story.

“When I was born, Korea was still a developing country and people had a very negative sense of the prospects of economic growth,” said Kim. “Look at the country now. It’s gone from being a recipient of aid to a generous donor country. I think it’s a wonderful development and Korea can play a tremendously positive role throughout the world.”

South Korea is playing an increasingly important role as provider of investment and development assistance, with growing demand for its development knowledge. The country’s experience in sustainable development-- including its national green growth strategy-- finance and governance, information and communication technology, education and health, as well as transition to a knowledge economy, can benefit many developing countries.

Kim said " I look forward to meeting with representatives from government, the private sector and young people to learn more about how we can work together to create opportunities and bring prosperity for all."

During his official visit on October 15th, he will deliver the keynote speech at the International Development Forum, the first of a series of high level policy dialogues sponsored by the Korean Development Institute, the Ministry of Strategy and Finance and the World Bank Group on "Expanding the Frontiers of Development Policy".

Kim will also attend a private sector seminar co-hosted by the Korea Finance Corporation, IFC (International Finance Corporation) and MIGA (Multilateral Investment Guarantee Agency).
Kim will be accompanied by World Bank East Asia and Pacific Regional Vice President Pamela Cox, IFC Asia Pacific Vice President Karin Finkelston and MIGA Executive Vice President Izumi Kobayashi.
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