Clinton gave an incredibly whereul speech in geneva many countries were very startled to see the u. S. Out there weeding in this way and persons weret lgbt entitled to the same rights around the world and are a central part of what it means to promote human rights. As part of the president ial atective on the we look asylum claims on the basis of persecution. People have a wellfounded fear of persecution because there are mobs going go to gore with going doortodoor with wests. Going doortodoor with lists. Now, we see countries like russia exporting worst practices. President obama has been very outspoken on this and well will continue to contest this and make it a subject for bilateral diplomacy and do what we can the laws i described earlier to make sure other countries are standing with us, particularly from other regions and not just europe and north america. [indiscernible] thank you very much. This concludes the hearing. A look at some news and the wall street journal. An article, chuck hagel arriving in japan to reassure ally. The defense secretary arrived in japan today on a sixday trip to reassure asian allies that the response to russias intervention in ukraine should not be a sign that the u. S. Is reluctant to support its friends in times of crisis. That response is raising concerns that the u. S. Is wary of using its military to back international diplomacy. Concern overe is u. S. Backing when it comes to disputes between china and its neighbors. Unease with north korea. After two days in japan, secretary hagel will make his as defense secretary to china. That news from the wall street girl. Secretary of state john kerry is on capitol hill this week. He will testify about the state departments 2015 budget request of 46 billion dollars, including 1. 5 billion to support humanitarian efforts in syria. And 4. 6 billion to secure personnel and facilities overseas. You can watch live coverage of the secretarys testimony before the Senates Foreign Relation Committee on tuesday on cspan3. Asics is a nonprofit organization. Improveion is to printmaking. Bookbinding is an art form. From accordion to flags to traditional bound books that lay flat when you open. Book and art and altogether handmade. Wordsmore jus than just the in the book. It is the structure of the book. Whetherr that is used, there is text or no text. It is all of that. World tonending discover and create. It is the amazing. A6 printing and bookbinding studio is one place we will visit this weekend as we look at of history and literary life bend, oregon. Guest the president of the world bank talked recently about economic inequality. Investing in infrastructure and empowering People Living in poverty. The discussion was hosted by the council on Foreign Relations. It ran about one hour. Good morning. Thank you all for coming. Its a packed house. Welcome to todays council on Foreign Relations meeting and also welcome to our new york participants who are joining us via video conference. This is the 14th installment of the david morris lectures series. It honors lawyers, Public Servants and internationalist who is have been an active honoring a lawyer, Public Servant and internationalist who is an active councilmember for nearly 30 years. Our guest today, president of the world bank, dr. Jim yong kim. Hes going to speak, some opening remarks. Ill chat with him a little bit and then well have about a half an hour of q a. Thanks so much for coming. Dr. Kim. Good morning, everybody. Thank you, michelle, and also thanks to our host, the council on Foreign Relations. Im very honored to be here giving the david a. Morris lecture. I want to talk today about some fundamental issues in Global Development and the World Bank Groups role in helping countries and the private sector meet the greatest challenges in development. You know, for a very long time the rich have known to some extent and certainly to a much greater extent in recent years the rich have known how the poor around the world live. But whats new in todays world is that the best kept secret from the poor, namely how the rich live, is now out. To village television, to the internet, hand held instruments which are rapidly increasing the number the poor possess, lifestyle of the rich and middle class about which the earlier had foggy ideas are transmitted in full color to their homes every day and that has made all the difference. The political turbulence were seeing all around the world is very approximate causes, but a lot of its fundamentally rooted in this one new feature of todays world. The question that nearly everyone that lives in the developing world is asking themselves is how can they and their children have the Economic Opportunities that so many others in the world enjoy . Everyone knows how everyone else lives. Tom friedman has referred to this group of people as the virtual middle class. Last year when i traveled to president morales to a bolivian village 14,000 feet above sea level to play soccer, of all things, villagers snapped pictures of us on their smartphones upon our arrival. When i visited a neighborhood in india, the poorest state in india, with also the highest number of poor people, a state of a population of 200 Million People, i found indians watching korean soap operas on their smartphones. Its not a great mystery then why Everyone Wants more opportunities for themselves and especially for their children. We live in an unequal world. The gaps between the rich and the poor are as obvious here in washington, d. C. , as in any capital in the world. Yet, those excluded from economic progress remain largely invisible to many of us in the rich world. In the words of pope francis, and i quote, that Homeless People freeze to death in the street is not news. But a drop in the stock market is a tragedy, end quote. While we in the rich world may be blind to the suffering of the poor, the poor throughout the world are very much aware of how the rich live and they have shown that theyre willing to take action. We cannot remain voluntarily blind to the impact of economic choices in the poor and vulnerable. Not only because of the immoral argument that treating your neighborhood moral argument that treating your neighbor with dignity is the right thing to do, but when growth includes women, the young and the poor, we all benefit and inequality hurts everyone. Womens low participation creates a loss of 28 in the middle east and north africa. A contract between people and their government this also, as we know, builds stronger economies. If we raised womens employment to the levels of men, for instance, average income would rise by 19 in south asia and 14 in latin america. Just a year ago, the governors of the World Bank Group endorsed two new goals for our institution. The first that we will commit our energies to end extreme poverty by 2030 and the second, that we will work to boost shared prosperity. On extreme poverty, what we mean is People Living on less than 1. 25 a day. Less than the coins that many of us empty from our pockets each night. Yet, more than a billion people in the world live on less than that each day. The second goal about shared prosperity, of course, is a focus on the Income Growth of the bottom 40 . But we know that even if countries grow at the same rates as over the last 20 years, if the Income Distribution remains the same, world poverty will fall to only about 7. 7 in 2010. And thats the percentage of all the people in the world, not just the developing world living in poverty. From a rate of 17. 7 . Again, this is the entire globe that were living in extreme poverty in 2010. In the past 20 years, the world was able to lift roughly 35 Million People out of poverty every year. But if were going to reach our goal of ending extreme poverty by 2030, we need to help 50 Million People raise themselves out of poverty every year. We also know now that the fundamental problems of the world today affect not millions but billions of us. Nearly two billion people lack access to energy. An estimated 2. 5 billion people plaque access to financial services, and all of us, all seven billion of us, face an impending disaster from Climate Change if we do not act today with a plan equal to the challenge. Martin luther king once said the arc of the universe is very long but it bends towards justice. Today we must ask ourselves whether we, like dr. King did in his life, doing all we can to forcefully bend the arc of history towards justice, toward helping lift more than a billion people out of the devastation of extreme poverty. Im now just 21 months into my tenure as president of the World Bank Group, and i ask myself this question, are we doing enough every single day . Just three months after i started, we defined ourselves as a Solutions Bank that will marshal our vast reserves of evidence and knowledge and apply them to local problems. A year into my job, the board endorsed our twin goals, and just six months ago the board endorsed our strategy, aligning our operations to meet the goals. Since then weve made substantial changes and were well on our way to becoming a Solutions Bank as we envisioned to help clients tackle the toughest challenge to meet the twin goals. You know, i feel very fortunate to work in an institution that has so much intellectual depth. Nearly 1,000 economists and 2,000 ph. D. s. And those ph. D. s have at least 4,000 opinions of points of view on any given issue on any day. And in my time at the World Bank Group, as you can imagine ive had no shortage of pointed advice from my staff. But their passion and insight remind me on a daily basis that our people care deeply about their mission. We recently took a survey of staff and one result was especially encouraging. 90 said they were proud to work at the World Bank Group. Now our responsibility is to take all that experience, talent and knowledge and make it user friendly to any country or company that needs it. We need to work differently in order to reflect one of the indisputable new realities of the World Governments and companies can turn to many places for financing and for knowledge. Our comparative advantage has to be so clear that companies, countries and other partners will seek us out for the best, downtheground experience and advice available. We will now work much more cohesively so the staff and the bank can work in the public sector, staff that work in the private sector and staff who provide Risk Insurance and guarantees will bring their collective experience together to better serve our clients. Weve also created what we call global practices which will become communities of experts in 14 areas such as water, health, finance, agriculture and energy. In the next few days well be announcing the heads of these practices. Imagine what it would be like if i were naming one of you in the room as a senior director of our water practice. Youd be responsible for designing investments in water and sanitation so that girls, for example, arent walking miles every morning to the nearest river for cooking and cleaning instead of going to school. Soon youd have around 200 water experts on your team. You and your Management Team would look across waterrelated projects in the world and deploy the 200 experts to bangladesh, peru, angola, for instance, making choices to move holders of particular knowledge for specific particular knowledge to address specific problems in a particular country. Your task, more than anything else, would be to deliver solutions. Youd be expected to find the best approaches to water and sanitation that will help millions of poor people lift themselves out of poverty. In my opinion, you and your 200 experts would have the best jobs in the world in your field. Our entire leadership at the World Bank Group, including the heads of global practices, will be responsible for spreading knowledge and scaling up successful programs. What weve called at the World Bank Group a science of delivery. Delivery is about ensuring that the intended results reach the intended beneficiaries at or near expected cost. In order to deliver a scale, we need to cure ate knowledge, ack sell at problem solving, deal with complex systems, measure effectiveness throughout all of the projects that we work on. If we can deliver on our problem on our promises, we can are have a transformational impact in the world. The world developments far outweighs the needs to address them. We can do so much more. In order to meet the increased demand were expecting as we get better at delivering knowledge and solutions to our clients, weve also strengthened our Financial Capacity to scale up revenue and stretch our capital. Im pleased to announce today that with the support of our board we now have the capacity to nearly double our annual lending to middleincome countries, from 15 billion to as much as 28 billion a year. This means that the world banks lending capacity or the amount of loans we carry on our Balance Sheet will increase by 100 billion in the next decade to roughly 300 billion. This is in addition to the largest replenishment in the fund for the poorest with grants and loans that we received just in december. At the same time were also increasing our direct support for the private sector. Mega is planning to increase its guarantees by nearly 50 over the next four years. I. F. C. Expects it will double its portfolio in the next decade to 90 billion. In 10 years we believe the annual commitment will increase to 26 billion a year. Taking as a whole, the World Bank Groups annual commitment which today is around 45 billion to 50 billion is expected to grow to more than 70 billion in the coming years. This increased financial firepower represents unprecedented growth for the World Bank Group. We are now in position to mobilize and leverage in total hundreds of billions of dollars annually in the years ahead. Now, as a matter of integrity, we needed to look inside our institution and identify savings. At almost every Large Organization can become more efficient and we announced a goal of saving 400 million in the next four years and well give details of the majority of the savings which we will of course reinvest in countries. I believe very strongly that we had to get leaner before we got bigger. So, in the coming years what will we be doing . Well follow the evidence and we will be bold. The fact is that 2 3 of the worlds extreme poor are concentrated in just five countries. India, china, nigeria, bangladesh and the democratic republican of congo. If you add another five minutes, indonesia, pakistan, tanzania, ethiopia and kenya it will have 30 of the extreme poor. Expect us to focus on these countries but we will not ignore the others. We will have a strategy that ensures that no country is left behind as we end extreme poverty by 2030. So how will we be bold . In china last week we launched a report on the future of china cities. This report included the work of more than 100 World Bank Staff and has spurred china to make policy decisions that address Critical Development and urbanization challenges, lug pollution, land rights for farmers including pollution, land rights for farmers. It will improve the lives of its citizens. We hope that these lessons from china will be beneficial to cities around the world. A second example is the work on the hydroelectric project. Our board approved the Worlds Largest potentially the Worlds Largest hydropower site could generate more than 40 gigawatts of power which is equal to half of all the installed capacity of all the Subsaharan Africa today. Moreover, it could potentially prevent the emission of eight billion tons of carbon over 30 years if coal was used to generate the same amount of power. We need this power desperately in africa. Today, the combined energy usage of the billion people who live in the entire continent is equal to those who live in china. A third example of our being bold in our work is supporting conditional Cash Transfer programs. These programs provide monthly programs to poor families if, for example, they send their children to school or go to the doctor for a checkup. The results have been astounding. Before conditional Cash Transfer programs, School Attendants by poor children in parts of cambodia was 60 . Today after the program started nearly 90 of children attend school. In tanzania, along with the country leaders, we extended the Cash Transfer program which was started in 2010 for 20,000 households. By the middle of next year, we estimate it will reach one million households, covering five million to six million of the countrys poorest people. This is what we mean by identifying successful programs, working with partners and taking Transformational Solutions to scale. This is the path were taking in order to serve our countries better. The World Bank Group is committed to working in more effective ways with key partners and stakeholders, including those in Civil Society and we need committed political leaders. Most importantly, we need to unite people around the world in a Global Movement to end pove