Statement by World Bank Group
President Jim Kim in his official
visit to Colombia
January 15, 2016

Jim Yong Kim

Official visit to Colombia

Bogota, Colombia

Transcript

As part of his official visit to Colombia, World Bank Group President Jim Yong
Kim issued a press statement after his meeting with President Juan Manuel
Santos, at the Presidential Palace:

“I would like to thank President Santos and Minister Cárdenas for the
invitation to be here today. It’s an honor to visit Colombia at such an
extraordinary time. I had the opportunity to see some of your beautiful country
yesterday when I traveled to Valledupar.

What I have seen and heard during my visit makes me believe that Colombia
is on the cusp of a new era of peace and prosperity. This country is poised to
end more than 50 years of armed conflict, and the World Bank Group stands
ready to help take advantage of the opportunities that come with peace.

Colombia is already one of the strongest economies in Latin America.
Impressive rates of growth have helped to lift more than 6 million people out of
poverty over the last decade. While this is great progress, the ongoing conflict
has excluded some groups from the benefits of economic growth. The
Government’s commitment to reconciliation – embodied in the programs that I
saw yesterday in Guacoche – will be critical for healing the wounds of the
past.

With many countries around the world still in conflict, Colombia can offer
important lessons to the world on the transition from conflict to peace. This
country is showing that it’s possible to heal through economic development
that includes everyone.
At the same time, the external environment for Colombia is very
complex. Global growth is slowing and the world has entered a period of
lower oil and commodity prices. This has hurt all of the economies of South
America, but Colombia is better prepared than most, in large part because of
its very strong track record of enlightened macroeconomic management.

Colombia’s growth rate is higher than most economies in the subcontinent,
and we expect this will continue. The Colombian economy also is more
diversified than many of its neighbors. Going forward, the challenge here and
throughout Latin America will be to find new avenues for growth. Colombia
will need to continue to invest in infrastructure, mobilize the private sector, and
invest in human capital.

Let me make three other points. The first is that Colombia now has more
people in the middle class than in poverty. That is critically important because
this larger middle class, with lots of energy, connectivity, and high aspirations,
will inspire the country to grow.

The second is that last year, for the first time, Colombia spent more in
education than it did on the military, and this is a very important milestone.

My final point is that in Valledupar I experienced the great warmth of
Colombians. Colombia has been called the happiest country in the world, and
I saw that yesterday – and in fact I am much happier today than before I
arrived. This warmth also speaks well of Colombia’s huge potential for
tourism.

Thank you for your hospitality, and I’m looking forward to seeing this country
thrive in the years ahead.�