 |
| Jim Yong
Kim |
Report By: Information
Arm Of World Bank
World Bank Group President Jim Yong
Kim will visit Africa in his first official visit outside the U.S. since
taking up his new position in July 2012. He will visit Côte d’Ivoire and South
Africa September 4-6 to meet with national leaders, government ministers, women
leaders and young people, along with business representatives, to discuss how
the World Bank Group can better support African countries achieve higher
economic growth, significantly reduce poverty, and create more jobs and
opportunity for the people of the continent.
“Reducing poverty and creating opportunity for people to succeed are
vital to the World Bank Group’s mission and I plan to continue to strengthen
our work towards these goals. For this reason I chose Africa for my first
official visit as World Bank Group President, recognizing the priority given by
the continent’s governments to faster growth and less poverty. In the past,
Africa was often defined by its problems, but today, whether it’s empowering
women or creating job opportunities for young people or spurring new
businesses, Africa is increasingly home to some of the best development ideas
and solutions,” said
Dr. Kim.
“Africa is truly taking off and I look forward to hearing directly from
governments and people on the continent on how the Bank can help drive more
inclusive development throughout Africa.”
Dr. Kim will also discuss with leaders in both countries the importance of
stepped-up regional integration for Africa’s future. The continent loses
billions of dollars in potential trade earnings every year because of high
trade barriers with neighboring countries, making it is easier for Africa to
trade with the rest of the world than with itself.
Joining President Kim will be
Makhtar
Diop, the World Bank’s Vice President for Africa.
Côte d’Ivoire:
In Côte d’Ivoire, an important economic engine in West Africa,
Kim will meet with
President Alassane Ouattara and senior
cabinet members to discuss the next phase of the country’s development and
growth.
Dr. Kim will also meet with
women leaders to discuss the importance of women to the country’s efforts to
create jobs, open more businesses, and achieve lasting reconciliation and
development in the former war-torn country. The Bank Group President will
meet unemployed young people, including former soldiers, who are learning new
job skills in a World Bank-financed training program. Côte d’Ivoire has
as many as four million young people who are jobless.
“Côte d’Ivoire’s efforts at peace and reconciliation are important
elements for laying the foundation for sustainable development for itself and
neighboring countries. I look forward to learning more about how the World Bank
can better help fragile and post conflict states transition to stability and
development,” said
Dr. Kim said.
Dr. Kim will also see
first-hand the emerging dynamism of African private sector in a visit to an
industrial park for small and medium-sized agri-businesses. Côte d’Ivoire is
boosting food production in a region increasingly challenged by hunger and high
food prices. Agriculture has broad development impact and plays an essential
role in reducing poverty and hunger, while creating jobs and private
investment.
South Africa:
In South Africa,
Dr. Kim will meet with
President Jacob Zuma, Finance Minister Pravin
Gordhan, and cabinet members to discuss how the World Bank Group can
support South Africa’s efforts towards inclusive and sustainable growth. He
will also exchange ideas with local entrepreneurs on how the private sector is
creating opportunities and growth.
“South Africa is a key factor of African growth and a leading voice for
the African continent in the G-20 and other global forums. It is also an
important driver for trade and investment,” said
Dr. Kim.
“I
look forward to discussing how we can strengthen our partnership for better
development prospects, both in the country and across the continent, especially
in the vital area of better regional integration.”
Background:
Côte d’Ivoire, with a population of 22 million people, has the second
largest economy in West Africa. The World Bank Group has currently invested
approximately US$ 1 billion in the country’s development programs.
These include a post-conflict assistance project to help young people and
ex-combatants reintegrate into the national economy, along with others that
improve water and sanitation, governance and public sector reform, and foster
the creation of small and medium businesses (SMEs) and a more dynamic private
sector.
The World Bank Group’s private sector arm, International Finance Corporation
(IFC), focuses on strengthening financial institutions for the growth of SMEs,
supporting the country’s agribusinesses and improving the business climate to
attract more private investment. The World Bank Group’s Multilateral Investment
Guarantee Agency (MIGA) is helping to carry out a bridge project over the Ebrié
lagoon in Abidjan which is expected to have significant benefits such as
creating jobs and easing traffic congestion. This project is one of the first
private sector- led foreign direct investments in the country since the end of
the recent conflict.
The World Bank Group’s program in South Africa is still in early
stages. In April 2010, the World Bank approved the US$ 3.75 billion Eskom
Investment Support Project to help bring badly needed electricity to homes and
businesses in Southern Africa while also pioneering the biggest solar and wind
power plants in the developing world
The IFC’s strategy in South Africa focuses on supporting South African
companies “going north” and “going global” as well as providing advice and
financing to underserved niches of the market; technical assistance to small
businesses; and supporting the development of renewable energy.
MIGA provides support to foreign investors looking for opportunities in
South Africa and to South African companies wanting to invest abroad. The Bank
Group agency has provided support to agribusiness and financial services over
the past three years.
