The Multilateralist

World Bank wants others to learn from China

World Bank wants others to learn from China

The World Bank and the Chinese government have just announced a new joint initiative designed to disseminate knowledge about China’s anti-poverty and urbanization successes:

“China has lifted 600 million people out of poverty in the last 30 years, and the demand is growing among other developing countries to learn from its remarkable progress,” said World Bank Group President Jim Yong Kim. “The new knowledge hub will play an important role in making China’s lessons available to the world and will further our common mission to end extreme poverty and build shared prosperity.”

"The hub will become a new and open centre for developing countries to learn from each other,” said the Chinese Minister of Finance Xie Xuren.

Under the Memorandum of Understanding (MoU) on the World Bank-China Knowledge Hub for Development signed in Beijing by Kim and the Chinese Minister of Finance Xie Xuren, the first pilot, called TRANS-FORM, will focus on urban transport. This focus was selected because of the urgent need for innovative solutions to deliver green, inclusive, and low-carbon development.