World Bank Not Changing Stance on Alternative Energy Financing

The World Bank will continue to work with governments and the private sector to boost financing for alternative energy said its president

Need to find innovative ways to reach poor: World Bank chief

"China is a good example (for embracing open trade)", said Kim at the opening press conference of the 2017 World Bank and International Monetary Fund (IMF) Spring Meetings.

"The One Belt One Road project is an extremely important one for the Chinese government and also for us", said Kim. He says the threat to employment opportunity comes, though, amid soaring aspirations as near-universal access to the Internet means people in the poorest nations understand that other people have much more comfortable lives.

He said there was need to keep doing that as the options around the world, even in emerging markets, have gone down below three cents a kilowatt hour at which point it "becomes cost effective".

Kim remained steadfast on that stance when asked about the Trump administration's skepticism regarding climate change.

However, he rued that a grant of hundred billion was promised, but is not coming.

On coal, he identified six countries - China, India, the Philippines, Indonesia, Pakistan and Vietnam - which are putting most of the coal-based carbon in the air. So we're using this meeting to bring all of the leaders together to come up with a new plan.

'The science of climate change didn't change with any particular election, and I don't see that it will, ' Kim said.

"I think it would be very unfortunate for the U.K.to reduce their commitment", Kim said.

Kim said OECD countries were now looking very seriously at how they've done in terms of ensuring that globalisation and economic growth has been experienced by everyone. "The 0.7 that has been committed to is critically, critically important, not just for developing countries but for the future of the world".

"I think China has been stepping and illustrating that it's concerned about development, not just in neighboring countries or along the old Silk Road, but globally", he said.

"We have a very close working relationship with the Chinese government and also with [the Asian Infrastructure Investment Bank]".

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