Thanks for a very hopeful message in times of change. I like your conclusive statement on fighting poverty – 'It’s really not that complicated. We, as humanity have a choice to take responsibility for global challenges'.
Lasting poverty elimination is quite possible. We have had definitive history on our triumphant achievement in the eradication of smallpox, humanity’s worst public health crisis. And poverty is the world’s worst social crisis!! And we simply cannot dispose elimination of poverty as an ambitious goal.
It is quite important to mention IDA’s role and impact in the past. And we will need other innovative approaches to financing, including new partners and financing mechanisms as well. Last year, private capital flows into developing economies reached $1.18 trillion, whereas the net flow from the Bank was about $4.6 billion. Growth in developing countries especially ‘inclusive’ growth with private sector will certainly boost the income of the poorest and get them out of poverty. Leveraging our financial expertise and global technical knowledge, we can come up with the next big financial platform to help us pursue a meaningful goal. We look forward to Finance Partners in helping us stay relevant.