Is somewhere in the order of 180 or 200 billion plus. But we are talking one to 1. 5. There is no trillion dollars. There is no way to get there without the private sector. It is a very difficult time and capital now is without question beginning to get out of the emerging market. In order to be able to reach this goal, we have to be much more clever about how we utilize the Development System that countries provide and link to it to the kinds of investments that we know will be the creator of jobs. How do you do that . One of the things are trying to do in one of the papers we will be presenting next week is one in which all of us, all of the Multilateral Development banks, sat down together and said lets get all the different sources of financing for development. Lets put them all together and think strategically. If you look at all the different sources and you start really with improved domestic resources. Weve got to help countries have taxes in a more fair and we move reasonable way. That has got to be on the table. I was in london paying tribute to the u. K. Government and Prime Minister cameron for sticking with this pledge of providing 0. 7 of Gross National income to development. There were a lot of criticisms inside the u. K. It is remarkable they set up under the stood up under the criticism they keep going. Why should we provide aid to countries that they themselves dont collect taxes, especially from the rich. This is a question put on the table. One of the things we are learning is the public and the synergy between the public and private sector are part of the great hope Going Forward. For us, we focus specifically on supporting the small and Medium Enterprises in developing countries that can create the kind of jobs that lift people out of poverty. It is a very complicated business getting that right. Even within their own organization where , we have people who are very focused in the Public Sector and are very focused in the private sector and they are now talking to each other much more, but its relatively new. My own sense is we have to bring the private sector into our development. People have been extremely dedicated to getting into the Development Conversation from the beginning. For the Millennium Development goals, the private sector with was never part of the conversation and we asked them to make donations after everything was settled. This time in addis ababa, for the first time the private sector will be at the table talking about how we can meet these goals. John hamre its not a bad thing for the private sector to make profits, especially if they can channel it into a way to make good in the world. Dr. Kim there are many different situations out there. The bottom line is unless we create bankable projects projects in which there will be a return, we are not going to get infrastructure. We have focused so much on doing this that weve created something called the Global Infrastructure. Specifically it is focused on using all of our a Sovereign Wealth Fund doesnt have a whole staff of people who are used to putting together projects. So what we are hoping this will put those projects together. We will bring our safeguards and procurement standards to the table and prepared those projects and the decision will be on whether to invest. We feel we will create a very clear picture of risk and reward. A lot of these people, they have all these ideas about projects being too risky. We think by bringing our experience to the table they will understand the risk reward ratio is very favorable. We are going john hamre we are going to open up. You there. We dont have time. Thank you. Audience member the question is about Chinas Initiative to establish the a. I. Ip. What do you think of this event and what are the ways that the world they can cooperate with aiib . Dr. Kim the World Bank Group is in a very close relationship with china. It is a remarkable relationship and it goes back a long way, but the recent relationship shaped by my predecessor bob, worked very closely with the Chinese Government to put together a report called china 2030. The change of the chinese growth model from one focused on investment to one focused on to one focused on consumption services. All of these things the growth rate of 7 is continuing. This is part of a long conversation we been doing with china. We did a report on urbanization now one on health. Weve been talking about the infrastructure banks from the beginning. My position has been missing from the beginning, oh my goodness, we have so much need for infrastructure, that we welcome any new player. The Chinese Government has been very clear to us that this is not a competition for us, they have been very, very clear that they want to cooperate and weve already seen corporation. It is still early. They dont have articles of agreement. They havent decided what instrument they will put together. I can think of many potential joint projects. We have this Global Infrastructure facility they could invest there. The fundamental issue for a busier us is that the enemy has to be poverty. If your enemy is poverty, the natural thing to do is welcome new players interested in developing the infrastructure that will end poverty. Alex in the second row with a blue jacket. Audience member good morning, dr. Kim. My name is simon. My question is pretty much the african point of view. Most of the things you raised was pretty much about how developed countries use the tax to aid most of the developing countries. What is the world bank doing in a situation regarding having to build social safety and Social Security or situation of the tax system because if you as a world a group actually involve and engage this developing countries in the aspect, then they will learn as the policy of the world bank to engage their citizens, to come into that line. Even if there is no money in terms of poverty for the low income or poor people but the system and infrastructure is already infrastructure in place. So that is one aspect. John hamre have to limit it to one question. Dr. Kim let me take what i think i understood your question to be. You know, on the one hand, if there is one thing i think that has changed most dramatically about the World Bank Group, it is the extent to which we engage our clients in discussions about the in the early 1990s i was part of a group called 50 years is enough. We were on the streets trying to argue for the closing of the world they grew. We lost that argument and it is good because i have this job now. And i have to tell you, i have not seen any institution that is open to the world bank that is as open to the world bank and taking criticism and changing its practice over time. Now the World Bank Group works closely to try to figure out what they want in terms of their own development. Secondly, we are now aggressively moving forward so that every single project for beneficiary feedback. In other words, the people benefiting the program , we will get feedback directly from them. We have also worked on programs that increase the accountability by very simple things like putting posters on the outside of school, saying to the community the hours the teacher is supposed to be there and giving them a number to call if they dont show up. Working with countries, accountability, working with the citizens themselves is extremely important. A critical part of it and one of the things i mentioned is building his institutions is extremely important. We are working very hard to build institutions. One of the problems is the inability to collect taxes. There are countries, extremely poor countries where the top 1500 wage earners are exempted from paying taxes. Weve got the to call it what it is. This is not acceptable. We want to bring about their tax systems. We think that what we will find is that often the collecting of higher taxes or doing other things like removing fuel subsidies, which are basically the most regressive tax system you can imagine. Those things bringing more money into the public budget will allow countries to be able to provide the kind of social support mechanisms like cash transfers that we know to be effective. The strategy that i laid out grow, invest, cher is not the insurer, was not always the strategy of the World Bank Group. For a long time we focused on growth of gdp. This particular formulation is new. Putting growth, investment in people and ensuring the poor against plunging into poverty, this is something new for us and we want to help every country, especially in africa, get there. A huge part of the focus is in africa. That is where some of the most difficult challenges exist, but it is also the place where we have the highest ambition. John hamre alex, fourth row, lady with the green blouse. Audience member julie howard with food security. Thank you for focus on agricultural product entity. I wonder if you would comment on the world banks decision to withdraw funding from the centers of the International Research and world bank leadership. Dr. Kim we have not withdrawn money. We recognize the importance of Agricultural Research and we are in the process of finding how we can support it over time. We are focused on Agricultural Research, Getting Better at the expansion of extension services. This is all very real. It is simply what we did was a part of the budget that had been without review, simply renewing different grants to different groups over a long period of time. We simply moved that up into the light of day and find are finding the right way to support to other parts of the budget, these particular efforts. Audience member you said almost nothing about the institutional foundations and requirements particularly Civil Society and democracy. Dr. Kim it is a 20 minute speech. [laughter] but those issues are critical. The reference to Civil Society was on accountability. Weve been working very closely to increase accountability. There are many ways we have been doing it. For example, in afghanistan, where travel is so difficult we have actually , brought villagers and members of the Civil Society into the project itself by giving them cell phone cameras so they have cell phones and cameras and they take pictures of the project. They have a function that can get rid of the pictures if they are ever question, so they dont get in trouble. The level of involvement with Civil Society wasnt happening 20 years ago when its part of their tremendous change in the world they grew. Also, tenure is a critical issue in one that sorting out is often one of the most difficult thing to do. A country i know well, e. , has haiti, has been a problem. We are working on it and youre right. It is extremely important. Audience member could you elaborate on any World Bank Initiatives or plans to encounter the poverty emanating from the hot pot in the middle east like libya, yemen, syria, iraq, gaza and so on. You dr. Kim when i meet with leaders of government in the area, especially the new leaders, sometimes they ask us for arms. We cant do that. But it is a constant conversation that i have been having with the great thinkers and leaders in that particular region. To what extent is the problem ideological and to what extent is the problem economic . I get a surprising variety of answers and they span the entire range from people who say you cannot approach this from an Economic Development perspective, it is an ideological problem. There are those who say it is very much an economic problem. So my guess is that it is somewhere in the middle. Right now, what we are really, really focusing on is to try to do everything we can to at least eliminate the potential recruits that are there because they cant get a job and dont have an education. What are the major things we are trying to do . I agree with dr. Ali, the revered president of the economic Islamic Development bank. We are going to Work Together on a major education issue. What we know is even though the gdp per cap but it in some of the countries in the region have gone sky high, educational outcomes are still very low. And so, i think that something fundamentally different has happened in the prospects for quickly improving educational outcomes. The academy i told you about is essentially taking learning modules from the conkahn academy. Kahn is an amazing teacher. I have done it myself. There are fantastic teachers in every language. What they do is essentially put very simple but affect a lesson into a very simple format on software. So at what Bridge Academy does is essentially put very lowcost tablet and tablets are as inexpensive as 25 to make. They put them in the classrooms and as the students learn, the great secret is that teachers are learning, too. Rather than waiting 25 or 30 years to improve the quality of teachers, you bring Great Teachers into the classroom right away. For 6 per student, per month, they are able to do that and the teachers walk around and help the students who need the most help. The great news about the middle east there is a shared language, shared literature. There is a way that we think we could take scale, a new kind of educational program. We focus on areas that are weakest, the science technology, engineering and math. Will that make a huge difference . I am not sure. We know its a huge issue and we know that if we can have a regionwide discussion and take on another huge issue, which is water. We are not naive in thinking that measures focused on Economic Development full will stop all conflict. We now are convinced weve got to try it. Weve got to be aggressive about it in ink about and think a new about the intervention we may take to scale that might have an effect on the conversation. John hamre one more question. Audience member thank you. Good morning. Charles neustadt for the state department. Given the fact that the chinese and soviet systems are so different, both economically politically and ideologically from those in the west, is it really possible to work with bad them to help end extreme poverty or in particular, are they seriously interest in doing that and what would the strategies be with the west in the world bank would have to use to work with them on that problem. Dr. Kim did you say you are with the state department . John hamre audience member i speak for myself. Dr. Kim i ask because he used the term soviet. Audience member im too old to change. Dr. Kim you know, of the lessons for the bank and the new Development Bank will learn is multilateralism is very hard. Its always been really hard, continues to be hard and the reason it is hard is for us, the reason i have to run back is that our board lives with us. The conflicts that exist in the world are present on the board. One of the great things about having a board that lives or with us, is the people on the board get to know each other and what is happening is that they find ways of getting past difficulties that they wouldnt, i dont think, if they only came a few times a year. So is china serious about reducing poverty . The chinese have lifted more people out of extreme poverty than anybody in the world by far. Probably 600 Million People. They did it to a very strategy. A great extent in the manufacturing sector, but also agriculture. Are they serious about it . Absolutely. Are the russians serious about us . They are also a member of very Good Standing of the World Trade Group and endorse fully our goal of ending extreme poverty. I would say the end of extreme poverty is one of those things that the entire world has been able to agree on. It is probably the one Sustainable Development goal Going Forward in september that everyone seems to agree on. For us, it is not a question of ideologically whether we agree or not. For us, it is a question of just ensuring that we get every single bit of experience , advice and solutions in other , areas than provide them to everyone who has embraced this target. You know, for the first time in history, in my understanding, and i may be wrong, but my understanding is that in april of 2013 when the 188 member world government endorsed the goal to end extreme poverty, was the first time the World Bank Group as a whole had ever had clear goals. You know one of the fundamental lessons in management is if you try to accomplish something you have to have a clear target with a clear ending. The end extreme poverty by 2030. If you go backwards you have to rethink fundamentally if your organization is structured in the right way to get to the end of poverty. We restructured because we knew Global Knowledge was not flowing as well as it could throughout the organization. I think were all happy we did that because with the emergence of these new banks, the one thing they are not able to do quickly is to have 50 years of local knowledge inside the dictation. We want to be the group that provides that to them and everyone else. John hamre at least 50 other people would like to ask questions. We dont have time because president kim have to get back to the bank. Let me say this is an agenda allied not just for the world bank, but all of us. This is a goal everyone in this room and everyone in the country should embrace. We should all stay thank you for your vision your leadership. And would you please thank him with your applause. In march, the l. A. Times report