Executive Intelligence Review
Subscribe to EIR

PRESS RELEASE


World Bank ‘Working Closely’ with China on Belt and Road

April 26, 2017 (EIRNS)—In an April 20 press conference in Washington, World Bank President Jim-yong Kim, a Korean-American, announced that the World Bank Group is, and will continue, working closely with the Chinese government on the Belt and Road Initiative.

"The One Belt, One Road project is an extremely important one for the Chinese government and also for us," he said, according to a report in Xinhua April 21.

"The leadership that China is now taking in the overall world of development I think is unprecedented," Kim said. He underscored that China is very concerned with the issue of development, "not just in neighboring countries, but globally." Moreover, Kim added, the World Bank Group works very closely with the Chinese government, and also with the AIIB, and mentioned that it will soon sign an MOU with the AIIB.

Kim, who will be attending the May 14-15 BRI summit in Beijing, reported that the World Bank is currently engaged in a major study with China "on the drivers of China’s future economic growth," and that "we’re partnering with the AIIB already." The two financial institutions have in fact co-financed two projects in Indonesia. Kim said he expected that engagement both with the Chinese government and with "Chinese efforts at development" can only grow in the future.