London, United Kingdom, 8 May 2014 - His Highness the Aga Khan met on Thursday (8 May) with Dr Jim Yong Kim, the 12th president of the World Bank Group, to discuss global development challenges and efforts to end poverty. The meeting, held at the World Bank’s London offices, was the first between the chairman of the Aga Khan Development Network (AKDN) and Dr Kim. Dr Kim has been at the helm of the World Bank since 2012.
The World Bank Group and the AKDN have worked together on a number of major projects in the past. The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with AKDN agencies on major infrastructure projects for electricity generation in Côte d’Ivoire, Tajikistan and Uganda; promotion of the industrial sector and the development of better infrastructure services in Kenya, Tanzania and Uganda; tourism promotion, including investment in the Kabul Serena Hotel; capitalisation of a bank in Kyrgyzstan; and the creation of microfinance services in a number of countries.
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by supporting private sector development, mobilising private capital, and providing advisory and risk mitigation services to businesses and governments.