Jim Yong Kim, World Bank President, has said given the scarce nature of public resources, it is important for the private sector to be brought on board to help fund many poverty alleviation projects.
According to him, if poverty can be ended by 2030 in the world, then the private sector will not to be given the chance to play pivot roles.
Mr Kim disclosed this during the sixth annual Shared Value Leadership Summit held on May 10-11 in New York in the United States.
The United Nations (UN) General Assembly on September 10, 2014, targeted to “eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day” by 2030.
On his LinkedIn wall, the head of the Bretton Woods Institution said: “Last year, the global poverty rate was projected to fall below 10 per cent for the first time. But extreme poverty cannot be eradicated by 2030 without more fully engaging the private sector,” he said.
To make up for the scarce resources, the World Bank boss said: “The public and private sector need to work together to implement development solutions at scale.”
