Engage on ideas and issues during World Bank meetings and events
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The World Bank Meetings Center provides links and inside access to the information, ideas, and issues being discussed at various events such as the IMF and World Bank spring and annual meetings.
Submitted by Sameer Vasta on Sun, 04/25/2010 - 12:59
At a press conference earlier today, World Bank President announced that the Development Committee approved a capital increase, as well as proposed voting reform for the Bank. In his remarks, Mr. Zoellick talked about how these changes will affect the institution, as well as international development on the whole:
"This extra capital can be deployed to create jobs and protect the most vulnerable through investments in infrastructure, small and medium sized enterprises, and safety nets. The change in voting-power helps us better reflect the realities of a new multi-polar global economy where developing countries are now key global players. In a period when multilateral agreements between developed and developing countries have proved elusive, this accord is all the more significant."
A summary of the changes approved by the Development Committee:
An increase of $86.2 billion in capital for the International Bank for Reconstruction and Development (IBRD).
A $200 million increase in the capital of the IFC.
A 3.13 percentage point increase in the voting power of Developing and Transition countries (DTCs) at IBRD, bringing them to 47.19 percent.
An increase in the voting power of Developing and Transition Countries at IFC to 39.48 percent.
An agreement to review IBRD and IFC shareholdings every five years with a commitment to equitable voting power between developed countries and DTCs over time.
Submitted by Sameer Vasta on Sat, 04/24/2010 - 12:16
A panel on strengthening partnerships that took place earlier this week at the Civil Society Policy Forum during the 2010 Spring Meetings looked at how partnerships were integral to the response after the earthquake in Haiti.
The panel, which featured speakers from the World Bank, USAID, IMF, Save the Children, and the German Marshall Fund, explored the ways various organizations came together to ensure effective post-disaster revitalization and development outcomes after the disaster in Haiti.
Submitted by Sameer Vasta on Fri, 04/23/2010 - 17:19
At a press briefing earlier today at the Spring Meeting, Philippe Le Houérou, World Bank Vice President for Europe and Central Asia, spoke of how the region has faced the greatest fiscal pressures among all the world's regions during the global economic crisis.
20 out of 30 countries in Europe and Central Asia have experienced a decline in GDP in 2009, and Le Houérou remarked that the region will face a slow recovery in the year ahead:
"2010 is going to be a tough year for the Region with growth projected at around 3 percent. The prospects for 2011-2013 are only slightly better. Rising joblessness is pushing households into poverty and making things even harder for those already poor."
Submitted by Sameer Vasta on Fri, 04/23/2010 - 12:47
In their discussions this weekend, the Development Committee will be assessing five strategic priorities for the Bank in a post-crisis environment. Gender is considered a cross-cutting issue that will factor into all of the Bank's work in these priority areas.
The magazine, "Banking on Biodiversity," was launched Wednesday by President Zoellick at a special event at the Bank's headquarters in Washingont DC to draw attention to the plight of the wild tiger, a potent symbol of the threat to biodiversity worldwide.
"We are using the appeal of these charismatic big cats as a clarion call," said President Zoellick, "to draw attention to the need to protect biodiversity and to remind people of the wildlife and wilderness we stand to lose if we do not balance conservation and economic development."
Submitted by Sameer Vasta on Wed, 04/21/2010 - 09:58
This past weekend in Singapore, the World Bank released Winds of Change: East Asia's Sustainable Energy Future, a report that looks at how countries in the region can reduce greenhouse gas emissions without threatening growth.
A few key highlights from the report:
Governments in East Asia need to transform their energy sectors toward much higher energy efficiency with more widespread use of low-carbon technologies.
Shifts to clean energy require major domestic policy and institutional reforms.
Low-carbon fuels for power generation could meet half of the region's power demand by 2030.
Developed countries need to transfer substantial financing and low-carbon technologies.
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