Jim Yong Kim, President of the World Bank Group, called the country "an exceptional example of anaid recipient turned donor" and urged business leadersto invest in Africa to help millions of Africans emerge frompoverty, while also finding strong economic returns in newmarkets. It used to be that if you wanted to do somethingaround development, the focus was on official developmentassistance, foreign aid. Korea is one of the countries thatbenefited tremendously from foreign assistance. The WorldBank made many investments in the Republic of Korea and to agreat extent some of the greatest successes were related tothe relationship between the Republic of Korea and the WorldBank Group.For countries to have the sameexperience that Korea has had--going from one of the poorestcountries in the world to now being the 14th largest economyin the world--the private sector will have to play acritically important role.
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