Humanitarian Emergencies: the World Bank President Jim Yong Kim, has intervened with great clarity in his recent appeal on the potential (even more) catastrophic consequences of the uncontrolled migration flows if we do not work on the “de-risk” of the weakest countries.
“We must work on de-risking countries like Libya or Nigeria, to attract money in the form of profitable investments in development.”
In addition, he focused on an approach that we have embraced for years within our International Masters. That is to say, the necessity for all the actors to collaborate towards the development, especially for what concerns the joint investments and the finance impact, beyond the public institutional funding.
How to achieve it? “The biggest opportunity we have is in the huge capitals that have been dropped off after the economic crisis, that do not earn a lot. There are 8,5 trillion dollars invested in bond with negative interests issued by the ECB and by the Japanese Central Bank, 24,5 trillion in government bonds that make 1% or less; 8 trillion in cash that are not moving”. (As declared in the interview to La Stampa: Jim Yong Kim: “La crisi delle migrazioni è solo l’inizio della tragedia”)
Read also the following articles on the topic: Developing nations’ demands for better life must be met, says World Bank head and Migration can help to forge a more prosperous world, says World Bank.
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Photo Source: The World Bank
