Wednesday, April 22, 2015

Jim Kim, safeguards and 'the problem of multilateralism' | Devex

Jim Kim, safeguards and 'the problem of multilateralism' | Devex: "As the drama unfolds, Devex sat down with Kim to discuss allegations that the bank is relaxing its oversight policies in an effort to stay competitive with other development finance institutions, like the ascendent Asian Infrastructure Investment Bank, which many have described as a potential competitor to the Western-dominated Bretton Woods institutions of which the World Bank is a part.

Kim remains adamant that the safeguards revision is not a “dilution” of the bank’s commitment to social and environmental standards, but instead consistent with his commitment to serve “at the very cutting edge” of development finance.

At the same time, Kim acknowledged that leading an institution composed of 188 member states, where “all of the conflicts of the world exist on my board,” means that there will be people “unhappy on both sides of every issue.”"

'via Blog this'

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