Given the huge need for lending in development, Jim Yong Kim doesn’t envision the World Bank to be getting out of the business amid the rise of other emerging players, like the Asian Infrastructure Investment Bank.
In fact, the World Bank president sees a bigger leadership role for the multilateral financial institution in coordinating all of these financing sources, given its years of experience and the knowledge it has developed over decades, and hopes the bank’s lending portfolio would increase “dramatically” in the next couple of years.
Kim claims a lot of countries still want the World Bank Group in the consortium of lenders, as it “makes others feel more comfortable in investing.”
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About the author
Jenny Lei Ravelo@JennyLeiRavelo
Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.
