World Bank President Jim Yong Kim has opened the Washington, D.C.-based institution’s doors to potential collaboration and partnership with two of the international development community’s newest players in town — BRICS’ New Development Bank and China’s Asian Infrastructure Investment Bank.
Speaking in a public address organized by the Center for Strategic & International Studies, Kim said the World Bank is not only ready to welcome the new players on the field, but it is also willing to share knowledge expertise through collaborations and joint projects that will address growing development needs worldwide.
“The World Bank Group sees these development banks as potentially strong allies in tackling the enormous challenge of bringing much needed infrastructure to Asia,” Kim said, adding that with the right kind of conditions like “labor and procurement standards,” the two new MDBs “can become great new forces in the economic development of poor countries and emerging markets.”
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
