The private sector can play a critical role in poverty alleviation and providing badly-needed capital to infrastructure projects in developing countries, World Bank Group (WBG) President Jim Yong Kim said here on Tuesday.

"Jobs are important everywhere," Kim said at the ongoing 15th Annual Global Private Equity Conference hosted by the International Finance Corporation (IFC), the private investment arm of the WBG, adding that the private sector creates nine out of every 10 jobs and strong job growth momentum can help strengthen a society.

The WBG and private sector have a "fantastic opportunity" to cooperate in ending extreme global poverty by 2030 and preventing people from sliding back to poverty, Kim told a group of investors and reporters.

Emerging markets including India are confronted with huge long- term capital constraints in funding infrastructure construction, agricultural development and social safety net building. The private sector has a big role to play in creating jobs and boosting prosperity in emerging markets, he noted.

Kim reiterated coordinated global efforts to reduce the extreme poverty rate-- the proportion of people living on less than 1.25 U. S. dollars a day-- to 3 percent by 2030 and enhance the well-being of the vulnerable whose income are within the bottom 40 percent in each country. Endi

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