By: Eunsol Lee, KGGTF 2025 Youth Intern
On January 15, Chief Economist Dr. Richard Damania delivered an insightful lecture on "Sustainable Development at the World Bank." He addressed one of the defining challenges of the 21st century, examining how global prosperity and growth can be achieved without degrading the environment. Taking it a step further, he challenged us to consider whether it is possible not only to avoid harm but to actively enhance and rebuild the environment.
Dr. Damania's thought-provoking lecture was backed by robust environmental data, shedding light on critical issues that intertwine human and natural systems. His analysis addressed pressing concerns such as climate change, deforestation, air pollution, and the impact of fertilizers on ecosystems.
The lecture invited reflection on the intricate relationship between environmental sustainability and policy-making. He mentioned how as we navigate these global challenges; two pressing questions emerges:
“Can we deliver development that is sustainable and just?”
“Are the policies fit for purposes?”
Dr. Damania emphasized that in this context, "The World Bank is more than a Bank. Money is almost the least important thing." It is not merely about loans or financial assistance—money, in fact, is almost the least important component. Instead, the World Bank’s role in providing knowledge and strengthening collective action is paramount.
He also highlighted the crucial role of the KGGTF, a visionary green growth partnership between the World Bank and the Republic of Korea. As the only trust fund within the World Bank exclusively devoted to green growth, the KGGTF exemplifies the importance of strategic collaborations in addressing environmental challenges and driving sustainable progress.
Despite a tight schedule, Dr. Damania took time to engage with attendees in an extensive Q&A session, addressing questions from interns and offering both inspiration and valuable insights. His practical approaches highlighted the pivotal role each of us can play in KGGTF, inspiring individual contributions toward a more sustainable future.
All images courtesy of Eunsol Lee