World Bank Group President Pledges Up to $11 Billion in Support to Indonesia

Wednesday, May 20, 2015

World Bank Group President Jim Yong Kim pledged up to $11 billion in new financing in the next three to four years to Indonesia, the fourth most populous country in the world.

Dr. Kim, making his first visit to Indonesia as World Bank Group president, offered the institution’s support during his meeting today with President Joko Widodo. The Bank first opened the Jakarta office in 1968, the institution’s very first office outside of Washington, D.C. It is still the Bank’s largest country office.

“The World Bank Group is committed to building on the strong and successful partnership we have had with Indonesia for more than six decades,” said Dr. Kim. “We plan to deliver one of our largest financial commitments in the world to Indonesia from the Jakarta office, sharing with Indonesia international knowledge and technical expertise in sectors ranging from energy, health, education, maritime economy, to the delivery of services at the local level.”

Dr. Kim praised Indonesia’s economic growth, at an average of 6 percent over the last 10 years. Indonesia also halved the extreme poverty rate in just 15 years, to 11.3 percent today.“Helping some 25 million people escape poverty in less than a generation is an enormous achievement,” Dr. Kim said.

Source: The World Bank (link opens in a new window)

impact investing, poverty alleviation