WB president expects constructive relationship with China

Added On April 13, 2019

David Malpass, the newly-elected World Bank President, says he looks forward to a constructive relationship with China.
"The history going back many decades. China has changed greatly over these decades. In economic terms, very much stronger. And so I think that we can think of it as, it's role evolving from one where it was a major borrower from the World Bank, and I hope benefitted from the loans from the World Bank to one where now it will be much smaller borrower. At the same time, China is becoming more of a donor to the World Bank and a shareholder in the World Bank, and so we value that constructive relationship."
Malpass also hailed China's efforts and progress in poverty alleviation.
"One of the things that I want to emphasize is that we share a common view that poverty alleviation, that shared prosperity are key goals of what the World Bank should be doing, but also what nations around the world should be trying to do. China, as we know, has been hugely successful in reducing extreme poverty. In China as many as 850 million people are no longer in extreme poverty as the median income in China went up over these decades.  And, so that’s an achievement. So, China has some lessons to share and insights to share with the rest of the world."
David Malpass, 63, took office as the President of the World Bank Group on April 9, for a five-year term.