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STORY: WORLD BANK / POVERTY
TRT: 1.59
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH /NATS
DATELINE: 10 APRIL 2014, WASHINGTON D.C.
1. Tracking shot, Jim Yong Kim walking to stage
2. Wide shot, press conference
3. Medium shot, audience and reporters
4. SOUNDBITE (English), Jim Yong Kim, President of the World Bank Group:
“To end extreme poverty by 2030, the vast roles of the poorest – those earning less than $1.25 a day – will have to decrease by 50 million people each year. Think about that number. To reach our goal, 1 million people each week will have to lift themselves out of poverty. That’s each week for the next 16 years. And we strongly believe that this can happen. ”
5. Medium shot, audience and reporters
6. SOUNDBITE (English), Jim Yong Kim, President of the World Bank Group “There’s good news on finance as well. Over the next decade, our annual capacity is expected to grow from $45 to $50 billion a year now, to more than $70 billion a year. This is possible thanks to a record IDA replenishment, our costs savings, our financial strength, and clients willing to pay more for our knowledge and services.”
7. Pan left, cameras to Jim Yong Kim on stage
8. SOUNDBITE (English), Jim Yong Kim, President of the World Bank Group
“Our IDA, which is the concessional loans for the poorest countries, are zero interest, with a 40 year maturity essentially. That has not changed. And for some countries, especially the very, very poorest, we still provide grants. So the fees have only changed for a very small percentage of countries and we’re very grateful because they had to approve that in our board. And as you can imagine, that was not an easy conversation. But we take this as a vote of confidence that despite the increased costs, these countries are ready and willing to pay it because they like what they get form the World Bank Group.”
9. Med shot, Kim at the podium
1 million people each week will have to lift themselves out of poverty if we are to reach the goal of ending extreme poverty worldwide by 2030. Now that the global economic crisis has eased, the World Bank thinks that’s a realistic goal.
World Bank economists say that roughly 1 billion people around the word live in extreme poverty today – down from an estimated 1.2 billion in 2010. This decrease is in large part due to increasing growth in developing countries.
The number of the poorest – those earning less than a $1.25 a day needs to decrease by 50 million each year for the next 16 years if the world is to eradicate extreme poverty by 2030.
Jim Yong Kim, the President of the World Bank Group is confident that this can happen.
A new Bank report says countries now must complement enhanced growth with policies.
Kim said the World Bank is cutting costs and reorganizing to become a so-called “solutions bank” that provides global knowledge as well as loans for programs to boost prosperity.
“Over the next decade, our annual capacity is expected to grow from $45 to $50 billion a year now, to more than $70 billion a year. This is possible thanks to a record IDA replenishment, our costs savings, our financial strength, and clients willing to pay more for our knowledge and services.” – added Kim.
Kim also said the Bank’s move to raise fees will not directly impact the poorest countries.
“Our IDA, which is the concessional loans for the poorest countries, are zero interest, with a 40 year maturity essentially. That has not changed. And for some countries, especially the very, very poorest, we still provide grants. So the fees have only changed for a very small percentage of countries and we’re very grateful because they had to approve that in our board. And as you can imagine, that was not an easy conversation. But we take this as a vote of confidence that despite the increased costs, these countries are ready and willing to pay it because they like what they get form the World Bank Group.” – said Kim.
World Bank economists say that roughly 1 billion people around the word live in extreme poverty today – down from an estimated 1.2 billion in 2010.
