World Bank President Jim Yong Kim tells Government to Invest in Human Capital to Boost Economic Growth

Jim Yong Kim; World Bank Group President stated while speaking at the Brookings Institution on the eve of the World Bank/IMF Annual Meetings the three fundamental pillars that will drive momentum toward achieving the organisation’s goals of ending extreme poverty by 2030 and boosting shared prosperity.

Kim said
“We will achieve these goals in three ways: One: accelerating inclusive and sustainable economic growth; Two: investing in human capital; and Three, fostering resilience to global shocks and threats. Two goals, three ways to get there,”

Kim also stated “Our top priority is to end extreme poverty and boost shared prosperity, and our engagement with the private sector must be anchored in these two core values,”

He also noted that “Governments that do not invest early in a skilled, healthy, productive workforce are undermining their current and future economic growth,” Kim stated. “We need to help countries understand that investments in human capital are just as critical as investments in ‘hard infrastructure’ if they actually want to spur economic growth and compete effectively in the short, medium and long term.”

Source:worldbank.org

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