IMF chief and World Bank head on Euro crisis, efforts for global growth

AP TELEVISION 1. Mid of World Bank President Dr Jim Kim sitting down at news conference 2. Cutaway of officials listening 3. SOUNDBITE (English) Dr. Jim Kim, World Bank President: "Every single one of the BRICS (Brazil, Russia, India, China, South Africa) countries has an enormous infrastructure deficit that simply can't be met by a single institution, certainly not the World Bank in and of itself. So, for us the BRICS bank is quite a natural extension of the need for more investment in infrastructure, and so we would welcome it." 4. Wide of news conference 5. SOUNDBITE (English) Dr. Jim Kim, World Bank President: "You know, I think everyone was disappointed in the lower projections in China, but we've worked with China on a 2030 report that looks very specifically at the strategy going forward and our own sense is that the Chinese leadership is laser-focused on doing those things that will build the foundations of their future growth." 6. Wide of International Monetary Fund (IMF) news conference 7. SOUNDBITE (English) Christine Lagarde, Managing Director of the International Monetary Fund: "We expect global growth to be at 3.3 percent this year, which is not much different from last year. Now looking behind the numbers, we believe we have avoided the worst and the economic world no longer looks quite as dangerous as it did. At the same time, the pick-up in financial conditions, financial markets is clearly not translating into a sustained pick-up in growth and jobs in what really ultimately matters most for people." 8. Wide of media 9. SOUNDBITE (English) Christine Lagarde, Managing Director of the International Monetary Fund: "On the Euro area, policy makers have accomplished a great deal over a short period of time. The priority now is to fix frayed banking systems, press ahead with banking union. In Japan, which as I said is, has a space of it's own, the recently announced framework of ambitious monetary easing, is, from our point of view, a positive step. But, it is not enough and Japan needs more ambitious plans to bring down debt, plus structural reforms to shift the economy into higher gear." 10. Mid of news conference 11. SOUNDBITE (English) Christine Lagarde, Managing Director of the International Monetary Fund: "The role of China going forward is in our view critically important, if you look at the size of the economy, if you look at the pace at which it grows, if you look at its ability to gradually reshape its business model by refocusing gradually more to the domestic market." 12. Cutaway of reporters 13. SOUNDBITE (English) Christine Lagarde, Managing Director of the International Monetary Fund: "Well, there is nothing new under the sun and ever since 2011, I had known very well that I would be heard by the investigative, investigating commission of the Court de Justice. So, a date has been set at the end of May and I will be very happy to travel for a couple of days to Paris, but it is not going to change my focus, my attention and my enthusiasm for doing the work that I do." 14. Pan of IMF World Bank spring meetings sign 15. Exterior pan of World Bank offices STORYLINE: Ahead of the annual World Bank-International Monetary Fund (IMF) spring meetings in Washington DC this weekend, the heads of both institutions commented on the state of global financial and economic affairs on Thursday. In an opening news conference, World Bank chief Dr Jim Kim said he did not think that a new development bank for the world's emerging economic powers, known as the BRICS, was a threat to his organisation's role in global economic development. "For us the BRICS bank is quite a natural extension of the need for more investment in infrastructure, so we would welcome it." You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/1cb8ea920d409d0b8dc5de410e1cdf04 Find out more about AP Archive: http://www.aparchive.com/HowWeWork