World Bank President Jim Yong Kim stressed on Monday the importance of sharing knowledge on sustainable development after signing an agreement to open its office in Seoul next year. "The country truly deserves one of the greatest success stories, " Kim told reporters at a media briefing held in central Seoul, saying that South Korea, once the receiver of development aid, became an aid-giver for emerging nations. Before the briefing, President Kim signed a memorandum of understanding with South Korea's Finance Minister Bahk Jae-wan to open its office in the country next year as part of efforts to strengthen their joint efforts in supporting the sustainable growth of emerging countries. The two sides also agreed to establish a so-called "Korea-WB cooperation fund" worth 90 million U.S. dollars to financially support the bilateral partnership, according to the Ministry of Strategy and Finance. "At a time of global uncertainty, it will be more urgent than any other things to support economic development and poverty reduction in emerging nations," Kim said at a meeting with Minister Bahk. Kim noted that South Korea succeeded in improving the quality of people's lives and dynamically transforming to a knowledge- based economy by offering efficient infrastructure and services, saying that that experience will give precious lessons for many other emerging countries.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor