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World Bank chief Jim Yong Kim: 'They said poverty would always be with us. Well, maybe not'
Key Excerpts from Article on Website of The Independent (One of the UK's leading newspapers)
Posted: July 16th, 2013
http://www.independent.co.uk/news/people/profiles/world-bank...
Jim Yong Kim [is] the first man from outside the discipline of economics to take the helm at the World Bank. Having just celebrated his first year in charge, the Korean-American medical expert has refocused the worlds premier development bank on ending extreme poverty. The World Bank leader prefers to dwell on the positives. Global poverty, defined by the bank as living on $1.25 or less per day, was halved five years ahead of schedule. The next phase is to lift the remaining 20 per cent of the worlds population out of extreme poverty by 2030. The efforts to end poverty have been really significant, says Mr Kim. They said poverty would always be with us. Well, maybe not. A proportion of people he estimates three per cent will remain below the poverty line due to natural disasters and their related aftermaths, but otherwise extreme poverty will be gone from the earth. His appointment to the World Bank last year was not universally welcomed. Many observers resented his imposition by the United States over popular candidates from Africa and Latin America, while others worried that he was not an economist. They pointed to his presence at protests against the World Bank in 1993. Mr Kim now says that it was the lenders one size fits all approach to economies that he objected to. As well as aiming to end poverty, the bank has set itself the task of tracking the progress of the bottom 40 per cent in every country as a means of measuring social mobility and equality.
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