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Doth The World Bank Protest Too Much?

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Pity Jim Yong Kim. The cushy post of president of Dartmouth College—where he rarely, if ever, had to defend the continuing relevance of his employer—appears to have been poor training for leading the World Bank in the face of an existential crisis.

In his official launch of the World Bank and International Monetary Fund meetings, World Bank President Jim Yong Kim started on his back foot, defending the relevance of his institution.

Mr. Kim faced a battery of questions about whether the key emerging markets’ recently proposed “Brics Development Bank” that would fund infrastructure projects makes the 66-year old institution unnecessary….

“I really have no doubt in my own mind about our continued relevance for a very long time,” Mr. Kim said in the opening press conference.

The World Bank chief said he has visited every one of the Bric countries, “and I did not experience even slightly a diminishing of demand for our services.”

“There’s still no questions that the quality of our experience, the quality of our knowledge, our ability to actually deliver on their promises to their people is what keeps on coming back to the World Bank Group,” he said.

World Bank Chief Defends Organization's Relevance [WSJ Real Time Economics blog]



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