President Jim Yong Kim said last Tuesday that the global creditor was ready to aid developing countries. World Bank's head wanted to help states handle the increase in interest rates. The said upsurge was an effect of the US Fereral Reserve's idea to reduce its incentive program.
"There's a tremendous amount of concern about what could happen," Kim said following the lecture he gave. He added that by 2030, the bank would want to see a 3% reduction in poverty.
"We just have to be ready to move and try even harder to make sure that capital is available for the kinds of infrastructure investments developing countries need," he told reporters. He even noted that interest rates had previously boosted in expanding states.
The bank's President stated they were focused on providing funds for countries. He specified every state's need for money to fund critical infrastructure and energy programs. He said developing countries should have all the necessities before private investments pour in.
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