World Bank to redouble efforts to fight poverty

GOVERNMENT

|
Image: World Bank Group President Jim Yong Kim . By World Bank
World Bank Group President Jim Yong Kim

The World Bank Group Development Committee has wrapped up its annual plenary meetings in Tokyo with a resolve to transform the bank into a ‘solutions bank’ that helps eradicate poverty and boost prosperity.

World Bank Group President Jim Yong Kim called on members to redouble efforts to end absolute poverty.

"We still live in a world that has more than one billion people living in absolute poverty," Dr. Kim said at the closing press conference. "We must all work to make sure that the impressive gains in Latin America, Africa, and Asia over the past generation are not lost now."

“It is time to bend the arc of history. With global solidarity underpinned by a relentless drive for results, we can, we must, and we will build shared prosperity and end poverty,” Dr. Kim said.

Addressing the full membership of the World Bank for the first time as president, Dr. Kim said the Bank will establish a “clear and measurable bottom line” including “ambitious targets” for ending poverty and building shared prosperity, streamlined procedures and processes, and incentives for people working for or on behalf of the Bank who can bring results on the ground.

The plan includes strengthening evidence-based approaches to development by ensuring “virtually all developing countries have timely and accurate data,” said Dr. Kim.
In its communique, the committee called on the Bank to work with other organizations to accelerate efforts to help the African Sahel, where “hunger threatens the lives of 19 million people and the stability of the region.” The response should bring solutions that enable the region to “permanently escape the cycle of emergency aid, and reach a more resilient and sustainable future in the medium term.”

Donors meeting on the sidelines of the annual meetings made pledges to the Global Agriculture and Food Security Program, launched by the World Bank in 2008 at the request of the G20. The United States pledged to contribute an additional USD1 to the fund for every USD2 contributed by other donors (up to a total US contribution of USD475 million), attracting USD30 million contributions each from Japan and the Republic of Korea, with the Bill & Melinda Gates Foundation also indicating it would double its commitment.

The committee noted that World Bank Group must also continue to help countries strengthen conditions for job growth, and asked the World Bank to “contribute actively” to the process of setting global development targets that would take effect after the Millennium Development Goals sunset in 2015. “



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE GOVERNMENT NEWS

Safaricom dominance under discussion in Parliament

A bill aimed at levelling Kenya’s telecommunications sector by declaring leading operator, Safaricom, as dominant in the industry, is now in Kenya’s parliament. Read More

KRA marks 2 millionth iTax registration

The Kenya Revenue Authority (KRA), has sealed a major milestone in its organisational transformation journey, with the registration of its 2millionth iTax client. Read More

CBN extends BVN enrolment

The Central Bank of Nigeria has extended the timeline for the enrolment for the national Bank Verification Number (BVN).   Read More

NITA gets a new boss

Ghana’s President John Dramani Mahama has appointed a 35 year old computer scientist, George Atta-Boateng, as Acting Director General of the National Information and Technology Agency. Read More

Nigeria BVN deadline looms

Bank customers in Nigeria are reported to be rushing to register for their biometric banking ID as the deadline for the BVNs looms. Read More

Young entrepreneurs in Rwanda told to be more creative

The latest YouthKonnekt Hangout hosted by Rwanda’s Ministry of Youth and ICT (MYICT) in partnership with UNDP, ADMA, Tigo, and HeHe Labs, has urged young entrepreneurs to be innovative. Read More

Jumia gets visit from Côte d’Ivoire Minister

Côte d’Ivoire’s Minister of Post and Information and Communication Technology, Bruno Kone, has paid a visit to the offices of e-commerce firm Jumia. Read More

African heads of state to participate in TGAIS

Five heads of state have already confirmed their participation in the 2015 Global African Investment Summit.  Read More

Francis Wangusi reappointed CAK DG

The Board of the Communications Authority of Kenya has announced the appointment of Francis Wangusi as the Director General for a term of four years, effective 22 August 2015. Read More

NIN mandatory from September 1, says NIMC

The National Identity Management Commission (NIMC) has put 1st September, 2015 as the date from which all transactions involving the identification of individuals must be done with the National Identification Number (NIN). Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

IHS plans to inject fresh $500m to grow capacityIHS plans to inject fresh $500m to grow capacity

Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.