World Bank’s Jim Yong Kim embraces private equity
Jim Yong Kim, president of the World Bank Group, reveals a change of heart
about the role of private capital in supporting growth.
By Jame DiBiasio | 20 May 2013
Jim Yong Kim has journeyed on the road to Damascus. Just as the early
Christian apostle Paul was suddenly converted to a new faith, the recently
installed president of the World Bank Group has similarly changed belief – in
this case, by realising the need for private capital to drive economic
development in emerging markets.
Kim revealed his change of heart while speaking in Washington, DC at
the annual global private equity conference organised by the Emerging Markets
Private Equity Association (Empea) and the International Finance Corporation,
the private-sector arm of the World Bank.
Now less than a year into his presidency, Kim, a former anthropologist
and health expert, says, “I never would have guessed that private equity could
play a critical role in meeting the aspirations of the two billion people still
in poverty today.”
Full:
http://www.financeasia.com/News/343550,world-bank8217s-jim-yong-kim-embraces-private-equity.aspx
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