KARACHI: World Bank is committed to tackling the issues of extreme poverty and inequality, besides improving the lot of underprivileged people around the world, said WB Group President Jim Yong Kim.

At a discussion, organised at the Institute of Business Administration on Wednesday on “Social Innovation and Inclusion,” Kim praised the role of emerging female entrepreneurs and said “youth are a great asset for Pakistan’s development”.

He assured the audience, comprising students, faculty members and female entrepreneurs that the WB would continue to support skill development and creation of quality jobs for youth and women.

“The number of young people in Pakistan is growing rapidly and so job creation is a priority and this is where the private sector can play a huge role,” he said.

The address was streamed through video-link to students of around 75 universities in the country.

He declared that one of the goals being pursued by the World Bank is to tackle the issue of inequality around the world to lift the people out of poverty.

The World Bank President said that his organisation with some 188-member countries extends technical assistance and financing to enable them to take decisions to tackle their issues. He stressed that there was a need for coming up with solutions that work effectively. The bank, he stated, also makes available substantial financial assistance to the member countries to help meet their development needs.

The investment in people contributes to the real growth, especially in the realms of education and health, he said.

Jim Yong Kim said that there are some 2,000 PhDs at the World Bank who are engaged in solution of the problems faced by the people around the globe. Replying to a question, he said that for enhancing its power generation needs, Pakistan may turn to solar option as this would help provide electricity in the far-flung areas as well.

Published in Dawn, February 11th, 2016