A Challenge to Bend the Arc At the World Bank Group we often talk about dreaming of a world free of poverty, the motto inscribed in the entrance of our headquarters. Well it is time to move from dreaming of a world free of poverty to achieving it. It is time to bend the arc of history. With global solidarity underpinned by a relentless drive for results, we can, we must, and we will end poverty and build shared prosperity. Remarks As Prepared for Delivery ... at the Annual Meeting Plenary Session World Bank Group WBG _c9ce1bae-4a08-11e0-92b5-703b7a64ea2a Jim Yong Kim World Bank Group President ... extreme poverty virtually eliminated _3f895572-1fe4-11e2-9160-d4173736e24c To bend the arc of history and accelerate progress. _3f895de2-1fe4-11e2-9160-d4173736e24c Honesty Discovery Learning Science of Delivery Clarity Effectiveness Shared Prosperity Implementation Results Streamlining Simplification Synergy Process of Discovery Work with our partners, clients, and local communities to learn and promote a process of discovery. _3f895ee6-1fe4-11e2-9160-d4173736e24c 1 Communities ... as a solutions bank, we will work with our partners, clients, and local communities to learn and promote a process of discovery. Through decades of development work I’ve learned that the best solutions to economic and social problems often lie with the individuals and communities coping with these challenges in their daily life. They have been my greatest teachers. We must listen to and act on their insights. Answers Seek answers beyond our walls. _3f895f68-1fe4-11e2-9160-d4173736e24c 1.1 To be an effective solutions bank, we will need to seek answers beyond our walls. Today knowledge is everywhere, flowing from entrepreneurs in Delhi to citizens in rural Mexico to civil society in Lagos to policymakers in Sarajevo. With our global reach, the World Bank Group is ideally positioned to connect and convene multiple stakeholders from around the world, brokering knowledge exchange across institutional boundaries. 3a6395e1-1bc1-4968-97af-a4a4fa3a2421 Partnerships Strengthen and expand our partnerships. _3f895fea-1fe4-11e2-9160-d4173736e24c 1.2 IMF U.N. Regional Development Banks Civil Society Organizations Foundations Academic Institutions Private Sector To do so we will strengthen and expand our partnerships. This means reinforcing collaboration with the IMF, the U.N., and the regional development banks. And it means building new alliances with leading civil society organizations, foundations, academic institutions, and the private sector to advance shared goals. 60e611cc-5c92-4f61-9295-5648ca4f9845 Delivery Focus on delivery. _3f896062-1fe4-11e2-9160-d4173736e24c 2 A solutions bank will be more focused on delivery than ever before. During an era of constrained resources and daunting challenges, this is what both our donors and our clients demand. A number of our clients have increasing financial resources at their disposal. But all of our clients are challenged by delivery -- the design, execution and demonstration of results. Because most failures happen at delivery. When a government passes a strong anti-corruption law but little changes in actual practice: that’s a delivery failure. Or when a country invests heavily in primary education but still can’t get all its children in school, or ensure that they’re learning: that’s a delivery failure, too. This is the next frontier for the World Bank Group -- helping to advance a “science of delivery”. Because we know that delivery isn’t easy -- it’s not as simple as just saying “this works, this doesn’t.” Effective delivery demands context-specific knowledge. It requires constant adjustments, a willingness to take smart risks, and a relentless focus on the details of implementation. One of the World Bank Group’s key comparative advantages is that we have partnered with communities and policymakers across nearly all developing countries in every sector; to become a solutions bank we need to systematically leverage and apply the lessons from these experiences. Honesty Learn from both successes and failures. _3f8960ee-1fe4-11e2-9160-d4173736e24c 2.1 Being a solutions bank will demand that we are honest about both our successes and our failures. We can, and must, learn from both. 05d7ec51-bf94-47ec-b0b5-80076f585f72 Operationalization Operationalize this shift. _3f896166-1fe4-11e2-9160-d4173736e24c 2.2 Our transformation into a solutions bank will take place over time, and we are still identifying opportunities to operationalize this shift. But today I want to highlight four early actions we’ll be pursuing to speed this process. a130e925-46d4-43a0-b6e3-9ba70be7964e Metrics Establishing a clear and measurable bottom line. _3f8961f2-1fe4-11e2-9160-d4173736e24c 2.2.1 First, we’ll be establishing a clear and measurable bottom line. This will force us to take a hard look at everything we do and push us to be as effective as possible. The World Bank Group’s mission is to end poverty and build shared prosperity. That’s why I’ve asked the institution to come up with a bottom line in the form of ambitious targets for these two goals. f1a0d5d1-59d4-41cb-9dfe-9d7918f6eb2f Results Strengthen our implementation and results. _3f896274-1fe4-11e2-9160-d4173736e24c 2.2.2 Second, we’re strengthening our implementation and results. To do so we will change incentive structures to reward implementers and “fixers”: people who produce results for clients on the ground. It should not take two years for a project to evolve from concept to implementation. We want to be held accountable not for process but for results. That’s why I will work with our Board to streamline our procedures, simplify our processes, and cut down project preparation time. 2b32ffdc-e5dd-45b9-a6e1-db36ee0ce157 Integrated Solutions Improve our ability to provide our clients with integrated solutions for maximum impact. _3f8962f6-1fe4-11e2-9160-d4173736e24c 2.2.3 Third, we will rapidly improve our ability to provide our clients with integrated solutions for maximum impact. Better synergies will reinforce our comparative advantage as the only global development institution that can credibly support the public and private sectors; provide access to exceptional knowledge resources; and offer risk insurance to energize investment. That’s why I’ve asked my management team to come up with a plan for building greater synergies across the World Bank Group to save costs and improve effectiveness. aabb35ce-671f-4955-844a-fb7e41457a79 Data & Analytic Tools Continue investing in data and analytic tools, building on the success of the Open Data initiative. _3f89638c-1fe4-11e2-9160-d4173736e24c 2.2.4 Fourth, we need to continue investing in data and analytic tools, building on the success of the Open Data initiative. Data are crucial to setting priorities, making sound policy, and tracking results. Yet many countries have weak statistical capacity, and lack reliable and updated economic and poverty data. That’s why we will work with our partners to ensure virtually all developing countries have timely and accurate data. And we will be reporting annually on progress in fighting poverty and building shared prosperity. 768501de-3948-42e7-bca7-a71dd309fc82 2012-10-11 2012-10-26 http://www.worldbank.org/en/news/2012/10/12/remarks-world-bank-group-president-jim-yong-kim-annual-meeting-plenary-session Owen Ambur Owen.Ambur@verizon.net Submit error.