World Bank seeking ways to collaborate with AIIB – WB head

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“The World Bank will collaborate with the Asian Infrastructure Investment Bank (AIIB) and China Development Bank to eradicate extreme poverty in Asia, Africa and the rest of world,” World Bank President Jim Yong Kim told the People’s Daily on the eve of President Xi Jinping’s visit to the United Nations (UN) headquarters in New York City on September 26, where he [was to]attend a series of summits marking the UN’s 70th anniversary.

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Jim said that the World Bank welcomes the establishment of the AIIB and has been looking for ways to closely collaborate with it. “Anyone who cares about poverty and inequality would welcome a bank that is going to help developing countries grow their economy and increase jobs for their people, since the AIIB can play a vital role in reducing extreme poverty.”He also talked about his friendship with Chinese President Xi Jinping. “The US town Muscatine in Iowa State, which Xi Jinping visited about 30 years ago, is the place where I grew up. In our each meeting, we would talk about our friends in Muscatine, and I could feel his profound understanding of US society. ”

The World Bank president said he will attend the High-level Roundtable on South-South Cooperation co-chaired by President Xi and UN Secretary-General Ban Ki-moon. As an important program, the development plan of South-South Cooperation is another mechanism that differs from the Millennium Development Goals. According to him, many innovations have emerged in China’s development course, and the High-level Roundtable, aimed at eradicating extreme poverty and realizing common prosperity, will help developing nations boost their cooperation and exchanges in innovative development.

Jim said China is restructuring its economy by shifting its focus from manufacturing, exports and investments to services and consumption. “China’s economy needs to be viewed from a balanced perspective. Although its manufacturing sector has slowed down, the dema nd for services and the retail industry is rising. ” He added a growth of around 7 percent for the Chinese economy is still among the highest in the world.

*Published with permission from the People’s Daily of China

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