The president of the World Bank Dr. Jim Yong Kim has called for combined global efforts to ensure that poverty levels are reduced significantly during his term of office.
Kim, who replaced Robert Zoellick, started work on Monday and in his address to the World Bank employees, reiterated his will to fight poverty.
"I'm very excited to get going, and I want to say to everyone here today that we will continue to do our work at the World Bank with innovation, with analytic rigor, and with great passion, working in partnership with governments, with civil society organisations, with the private sector and, most importantly, with the people living in poverty we aspire to serve," he said.
He added that in the past few months, he had the privilege of talking with many World Bank employees, and discovered that not only is it the most important global development institution, but it's a movement.
"People here in Washington, and in more than a hundred country offices all over the world, are passionate about the twin aims of boosting prosperity and eradicating poverty," he said.
He pointed out that he is honoured to assume the presidency of the World Bank Group at a pivotal moment for the global economy.
"I spent most of my adult life working in some of the poorest communities in the world. And in my work, what I've learned is that the World Bank is the most important development institution in the world. I'm both humbled and inspired to take over today as President," said Dr Kim.
He recognised his predecessor, Zoellick, saying he did a fantastic job over the last five years, and he had left behind a very strong institution.
Kim became President after defeating Nigerian Finance Minister, Ngozi Okonjo-Iweala.