Potential Roles of the World Bank and Urban Sector Contributions

Today, it is imperative for the World Bank (‘the Bank’) to search for new and stronger roles to play in international development in the light of changing development community and emerging global issues. Newcomers in the development community have been empowered with large financing resources. The emerging countries have also started to heal the development gap, now providing financial and technical support to their less fortunate neighbors. Multilateral agencies, bilateral aid agencies, and private banks and investors have made continuous efforts to achieve poverty reduction.

It has certainly made a tremendous difference. Large numbers of people, however, are still facing starvation without proper shelter and adequate basic services.

The poorest of the poor are being left behind. In an increasingly interconnected world, it gives new opportunities for workers in all countries to develop their potential and to support their families through jobs created by greater economic integration. It can, however, be translated into greater global threats stemming from climate change, communicable diseases, and violence.

The challenges facing poor countries where most of the poor people reside have been getting more complex and difficult to address issues by themselves. Furthermore, since the global financial crisis, there has been a growing demand for more efficient and effective development solutions, making the best use of limited resources. Global development organizations tend to focus more on financial disbursement and delivery rather than high-quality results affecting huge potential impacts on socio—economic growth and people’s lives in poor countries.

What is the potential role of the World Bank in the changing environment? A global leader in promoting global collective development actions – The Bank needs to enter into a new partnership in the development community in order to achieve the twin goals, harnessing the benefits of globalization.

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1 strongly believe that only way to achieve the twin goals is to work together with all the players including international institutions, bilateral donors, nongovernmental organizations, and the private sector, looking outside the Bank’s own wall. The Bank should stand in a leading position to coordinate related interventions across countries to fully realize their potential benefits. Moreover, it is essential for the Bank to encourage development partners including emerging economies to expand the Bank’s capital capacity for the goals. Global think tank » In cooperation with other institutes, it is critical for the Bank to bring a multi» sectoral knowledge and international experience to developing countries to tackle complex global issues.

The Bank should serve as a global think tank benefiting from a large pool of expertise in multi-sectors, sharing cutting-edge knowledge to provide world-class solutions for clients. Globalization is an opportunity to reach global solutions to national problems, working across boundaries to bring the collective best to the clients. Particularly, the Bank will be able to retain its global competence in knowledge by looking at the emerging countries, such as Korea, which have experienced similar challenges facing developing countries and successively addressed them. Based on the strong knowledge platform, intense knowledge exchange and intimate dialogue with the clients should be put in place to build their capacities to deal with their own issues by their empowerment. Leading institute offering quality-driven development performance.

The Bank needs a shift from program delivery to quality-based results, doing better and more effectively with less. it is recognized that an increase in numbers such as the length of roads does not translate automatically into poverty eradication and an improvement in people‘s wellbeing. The Bank should play a role in delivering both qualitative and quantitative development outcomes to client countries. Focusing on quality—based development will have bigger impacts on economic development and quality of people’s life in poor countries, using resources in a more efficient way, Suggestions on my contribution in urban sector to achieve the twin goals International experience suggests that urbanization contributes to economic transformation and growth which is critical to poverty reduction. Cities in the developing world are expanding at an unprecedented pace, It provides opportunities for many, particularly the poor who are attracted by hetterjohs and basic services.

However, it can also present serious challenges such as congestion, overcrowding, slums, and stark spatial inequalities. inadequate urban interventions are impeding economic growth and quality of people’s life in most developing countries, not fully benefiting from its urbanization and urban agglomerations. With its importance, urban sector is an area which I can make a big commitment to the Bank to achieve inclusive growth and poverty reduction. My potential contribution is proposed in the following two. Firstly, I would support international collaborations and knowledge sharing activities in urban sector, delivering better solutions to the developing countries. Especially, I would contribute to reinforce urban knowledge platform with successful urban practices and even errors, strengthening partnerships with Korean institutions.

The Bank will enable the client countries to plan, develop and manage their urban areas more effectively and minimize the possibility of failure by reaching out to the clients with global knowledge and proven solutions. Lastly, I would support strategic spatial planning interventions at all levels from cross-national to neighborhood levels. It will build world-class urban development solutions integrated with interlinked urban elements including roads, water and sanitation, buildings, urban space in more efficient and inclusive manner. Better spatial planning and development matters in alleviating poverty and narrowing a gap between the rich and the poor.

It needs a comprehensive approach to cross-national, national, and urban planning by enforcing urban framework to ensure that Bank programs contribute to economic growth, reducing poverty and improving shared prosperity. At the same time, urban design scales approach and dialogue with the client countries and real project beneficiaries would be pursued, meeting both quality and quantity in a more sustainable way. There are huge potential for this scale of urban inten/ention including public space and street design. International experience proves that small scale urban design can make difference, leading to huge spillover impacts on economic viability and in urban areas. It is ensured that the Bank will benefit a lot, having positive spillover impacts on the poor and their day-to-day lives from engaging in spatial planning issues.

In conclusion, recent global changes in the international development community and issues is challenging the role of the Bank, demanding high performance and results for even increasingly complex development issues. In this era, the Bank should step up as a global leader in promoting global collective development actions in close partnership with all players in international community. It also needs to aim for quality-driven project operations built on global knowledge platform and international experience. In urban sector, 1 would like to contribute to urban knowledge products and sharing benefiting from relevant international urban practices, especially, Korea’s urban development experience. More emphasis on spatial planning interventions will result in economic transformation and growth, reducing extreme poverty and inequality.