The World Bank is the world’s leading institution in development expertise, fostering economic policy, financial and private sector development, poverty reduction, human development, environmental protection, rural development, infrastructure and governance, in more than 100 countries, including many of the world’s poorest. But, despite this expertise, the 188-member institution, many say, is suffering from a lack of strategic focus, inappropriate strategies, systems and processes to realise its goals and, according to its own evaluations, declining effectiveness.
Jim Yong Kim, a Korean-American and former global health expert, who has been president of the World Bank since July 2012, is aware of the challenges the institution faces. In an exclusive interview at the World Bank’s 18th and H Street Washington, DC, headquarters, he talks about the World Bank’s new anti-poverty and climate change goals, and some radical changes that he is implementing with a senior management team to reform the institution.