World Bank President Jim Yong Kim said that all countries in the world need to take collegial efforts to face four major challenges to overcome poverty problem.In a statement yesterday, he said, there are major things to do to speed up our efforts in eradicating poverty across the world. He said, the first challenge is how to protect growth that has already been already gained by all countries from any possibilities brought in by current financial crisis that could eventually aggravate it. The current crisis, he said, could simultaneously badly affect the economy of countries in a region. The crisis could reduce the Gross Domestic Product of developing countries by 4 percent or more.To respond this problem, Mr. Jim Yong Kim said, the World Bank is willing to assist those countries in protecting their growth, employment rates and poor people by helping them in arranging fiscal expenditures and developing effective social safety net schemes.He said that the WB had already made cooperation with 40 countries in developing sustainable and effective social safety net schemes.
News On AIR | July 20, 2012 12:26 PM
Will help build social safety net for developing countries: WB Chief