World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, writes The World Bank Press Review.
In a communiqué at the close of a day-long meeting, the Bank’s steering committee said tackling poverty in poor countries, especially in sub-Saharan Africa and in countries emerging from conflict, should be a priority.
ØKONOMISK FLEKSIBILITET OG PRIVAT ENGAGEMENT
In a statement, the Bank’s policy-setting Development Committee said that its members urged governments to continue implementing policies supporting economic resilience (fleksibilitet, red.) and urged the Bank and the IMF to support and monitor those efforts.
The World Bank should further strengthen its work as a knowledge broker on development policy while continuing its existing lending activities, its Development Committee said.
Countries that are Bank clients, the committee said should sharpen their focus on poverty reduction strategies ‘on stronger, shared private-sector led growth to link these strategies better to budgetary frameworks and to implement them effectively.
“GRØN” VÆKST
The joint panel urged the World Bank to develop a framework to assist developing countries to achieve economic growth with low greenhouse gas emissions and poverty reduction at the same time.
In a related move, Japan announced a plan to contribute some $10 million (knap 53 mio. d. kr.) to the Forest Carbon Partnership Facility.
NYT KAPITEL ÅBNET
The new World Bank strategy is seen as a new chapter with Zoellick wanting to place agriculture at the heart of the anti-poverty fight while mobilizing private financing in the campaign.
– We need a 21st century ‘green revolution’ designed for the special and diverse needs of Africa, Zoellick told the Bank’s policy-setting development committee.
He said the new approach would be sparked by greater investments in technological research, sustainable land management and policies that strengthen market opportunities, while assisting with rural vulnerabilities.
Zoellick has also said he wants an inclusive approach to fighting poverty, hunger and disease.
Inclusive development means greater voice for those most affected by our decisions, said the former US trade chief and Goldman Sachs executive.
KINAS ROLLE
Chinese investment in Africa is a welcome development but the Asian country should aim for greater transparency in its dealings and avoid undermining efforts to wean the continent off debt, the heads of the World Bank and International Monetary Fund said Sunday.
Zoellick said the investments ‘can be very beneficial,’ helping develop infrastructure and exploit natural resources.
But at the same time, there will be issues’ raised by investments.
Zoellick highlighted two concerns. One is that China be transparent in its investment decisions to make sure that its projects ‘truly’ benefit the people who live in the recipient nations.
Kilde: www.worldbank.org
