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Transcript : World Bank Group President Dr. Jim Yong Kim remarks at the 45th annual meeting of the association of American Chambers of Commerce in Latin America (English)

These remarks were delivered by the World Bank President, Jim Yong Kim, at the 45th annual meeting of the Association of American Chambers of Commerce in Latin America, in Washington, D.C., on October 1, 2012. Mr. Kim says Latin America continues to grow at a higher level than the developed world. He says the high growth rates and the expansion of public programs aimed at improving the standard of living of the poor have led to clear success. Seventy-three million people have been lifted from poverty in Latin America in the last decade, and the region has been reversing the rates of inequality for the first time in 30 years. Mr. Kim says combined with the impressive rebound from the 2008-2009 crisis, Latin America's people and their economy have achieved important results that can serve as a source of pride. The region demonstrated that sound economic policies on the fiscal and monetary fronts can be successfully coupled with social equity. Mr. Kim adds that challenges and problems remain. He says the city of Bogota needs to double its housing stock by 2025 to accommodate labor force expansion. A fifth of people living in Lima do not have access to running water, and Mexico City treats just 15 percent of its sewage. The region needs massive private investment in infrastructure. It needs private investment in health and education, and it needs economic diversification beyond commodities production. Mr. Kim says it's of utmost importance to make manufacturing and services more competitive. Overall, there's a need for Latin America to improve the investment climate and the ease of doing business so that entrepreneurs with good business ideas can find a good environment to invest, create wealth, and bring more prosperity to the region. Before opening for questions and answers, Mr. Kim concludes with his experience in the fight against poverty: that prosperity from a healthy, robust, and inclusive private sector needs to be boosted.

Details

  • Author

    Kim,Jim Yong

  • Document Date

    2012/10/01

  • Document Type

    President's Speech

  • Report Number

    101833

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Latin America,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2015/12/16

  • Disclosure Status

    Disclosed

  • Doc Name

    Transcript : World Bank Group President Dr. Jim Yong Kim remarks at the 45th annual meeting of the association of American Chambers of Commerce in Latin America

  • Keywords

    private investment in infrastructure; regional multilateral development bank; Partners in Health; private sector investor; fight against poverty; single window system; private equity fund; standard of living; chambers of commerce; government and business; kind of investment; Social Safety Nets; supply chain management; essential health services; high growth rate; export of commodities; market for exports; Health Care Delivery; business environment; squatter settlement; drug-resistant tuberculosis; conventional wisdom; debt crisis; transaction cost; global economy; export good; potential implication; business community; economic model; domestic demand; running water; housing stock; investment partners; consensus forecast; electronic submission; critical infrastructure; lending service; women's empowerment; Economic Policy; historical evidence; global response; efficient market; financial service; environmental sustainability; political risk; solving problem; young people; Social Protection; global development; free flow; health problem; economic crisis; euro zone; educational service; global financial; bedroom community; Natural Resources; mutual fund; individual nation; world economy; sovereign debt; systems engineering; default risk; social mission; global scale; Blow Up; commodity production; economic diversification; escape poverty; Gender Equality; drug trade; multilateral agency; investment climate; reduce trade; small producer; increase productivity; public program

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Citation

Kim,Jim Yong

Transcript : World Bank Group President Dr. Jim Yong Kim remarks at the 45th annual meeting of the association of American Chambers of Commerce in Latin America (English). Presidential Speech Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/923561468197949883/Transcript-World-Bank-Group-President-Dr-Jim-Yong-Kim-remarks-at-the-45th-annual-meeting-of-the-association-of-American-Chambers-of-Commerce-in-Latin-America