Day one of the Global Philanthropy Forum in Washington, DC last week featured World Bank President Jim Yong Kim on the theme of Disruptors and Decision Makers: it takes us all. Dr. Kim spoke of ending extreme poverty by 2030, setting goals to do so, and structuring the organization in order to reach those goals. He also reflected on three lessons learned from the past 50 years of the World Bank.
- Invest in growth
- Invest in people
- Invest to ensure social protection
Dr. Kim spoke of investing in education and healthcare for women and children as a way toward economic growth and increasing income. 24% of growth in income was attributable to investing in health outcomes. There is opportunity in educating girls – and opportunities to transform the quality of education even when teachers are poor. Amidst this you have to be willing to change your position and approach when there is evidence, i.e., data.
Dr. Kim talked about the need for a “single conversation” between government leaders, multilaterals, corporations, NGOs and foundations where:
(W)e begin to understand domestic resource mobilization toward health care, education, and social protection, and other ‘frontier areas’ that are hard to justify using public resources, but where the private sector and where philanthropy can take the risks needed to achieve social impact.”
When asked about China and whether we are doing all we need to do to engage China in global governance when it comes to global economic development, Dr. Kim responded that “We certainly have a very close relationship with China [at the World Bank]. China increased its donation to the International Development Association (the World Bank’s fund for the poorest) by the greatest increase of any other country, to $300 million and a $1 billion concessionary loan. It is no surprise that China is a major player in Asia’s development, and in the world.”
About the Author
Andrew Ho is a philanthropic advisor with an extensive background in research, program design, and strategy at Kordant Philanthropy Advisors. He previously served as lead global philanthropy program staff for the Council on Foundations, where he led the Council’s global outreach efforts through identifying, developing, and stewarding collaborative relationships with foundations and stakeholders engaged in global philanthropy. He has also worked closely with family philanthropies to advise on philanthropy strategy and best practices, and developed programs for next generation foundation trustees and staff. Andrew is a frequent speaker on philanthropy and has presented on topics such as global philanthropy trends, and philanthropy in China.