In July 2016, Qingfeng Town in Chongqing city began to implement the sustainable development Project financed by the World Bank. The project funds were more than 12 million yuans, including institution construction, material, infrastructure and farmer’s technical training. After its completion, it will help more than 1000 villagers. (Photo from People.cn)

The Belt and Road initiative put forward by Chinese President Xi Jinping is of great significance since the highly-collaborative proposal will boost the development of the en-route countries and even the whole world, World Bank President Jim Yong Kim stressed on Thursday, pledging all forms of support to propel the initiative.

He said so in an interview with the People’s Daily before he headed to Beijing for the two-day Belt and Road Forum for International Cooperation kicked off on Sunday.

“We are eager to and ready to provide support of all forms to ‘Belt and Road’development,”Kim vowed, adding that the World Bank, together with the developing countries, has accumulated quite a number of experience in trade facilitation, road infrastructure, institutionalized investment and construction of infrastructure.

It is a remarkable achievement for China to lift millions of people out of poverty, the president hailed.

China’s experience in market economy, trade facilitation, pursuit of innovation and introduction of more state-owned enterprises into competing ground can be sum up as reference for other countries, he pointed out, adding that its undergoing reform of medical insurance system is also an important contribution to the international community.

China’s development also offers enlightenment for the World Bank, Kim stressed, elaborating that the organization is trying to incorporate more developing economies, including the poorest ones into the world market system, so that both involved nations and the investors will be benefited.

He added that as some developing nations need more investment to improve their infrastructure, the World Bank will, as always, support the cooperation and development of the developing countries including those along the Belt and Road.

The World Bank, according to the chief, has maintained close collaboration with Chinese departments like National Development and Reform Commission and Ministry of Finance, and launched unprecedented cooperation in mechanism reforms.

“We made some inputs, but learned a lot as well,” said the president who has paid several visits to China during his tenure.

Appreciating the development process of Shenzhen, a major city in Guangdong Province, Kim praised that it is a city that combines technologies, investment and economic growth perfectly.

Impressed a lot by China’s persistence to learning from the rest of world, the president said that China, with a strong learning ability, is good at applying the experience it borrowed to its own progress.