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April 2010

Malawi and the Millennium Development Goals

Kavita Watsa's picture

Malawi Minister talks about MDGs

At an event a few days ago at the Spring Meetings on Africa and the Millennium Development Goals—or MDGs for short—the speaker who left me with the strongest impression of hope for 2015 and beyond was Ted Sitima-Wina, Malawi’s Principal Secretary, Planning. Malawi, a small landlocked country with a per capita income of $280, is on track to meet five out of the eight goals, no small achievement in a region where most countries appear off-track on most goals, and many started from a very low base in 1990.

So what worked in Malawi? According to Sitima-Wina, it was aligning the Malawi National Development Strategy closely to the MDGs. “Papers signed in 2000 showed us goals and targets,” he said, “but what we did in Malawi was to contextualize them in our own poverty reduction strategy.”

Perhaps one of the most famous steps that Malawi took to cut poverty and hunger was a targeted subsidy which allowed poor farmers to afford fertilizer and hybrid seeds. With this, the country has moved from being a net importer to a net exporter of food. A recent survey showed that over the past few years, people in rural areas have reported that food is available, despite the crisis.

The UN, the World Bank—and Twitter—help raise the game on malaria

Kavita Watsa's picture

Ray Chambers, the UN Secretary General’s Special Envoy for Malaria, was here today to thank President Zoellick for $200 million to fund bed nets that will help prevent malaria in Africa. Chambers, who wants to bring a swift end to what he calls “the genocide of apathy,” conveyed a sense of great urgency as he described the UN’s sweeping campaign with 50 celebrities on Twitter—from Ashton Kutcher to Bill Gates. Through them, and through millions of tweets and re-tweets, money is being raised to ensure that all vulnerable people have bed nets by the end of the year. Yes, that’s this year.

As African governments look for ways to help the poorest people in the wake of the food, fuel, and financial crises, I think this was a very good moment for President Zoellick and Africa Vice President Oby Ezekwesili to note that anti-malaria efforts are relatively straightforward, with high returns on investment. The Bank’s effort to help close the gap—by funding 25 million of the 50 million remaining nets needed—is a timely one. It will cover seven countries—the Democratic Republic of Congo (DRC), Ethiopia, Ghana, Kenya, Mozambique, Sierra Leone and Zambia—among the 31 hardest hit by malaria.

“This was a highlight of my trip to Washington this spring,” said Uhuru Kenyatta, Kenya’s Finance Minister, “It is a key step to restore dignity to so many African men, women, and children.” Kenyatta called for a concerted effort by African governments to make sure that funds are used as intended and to scale up their own malaria funding. Finance Minister Mapon of the DRC spoke of great successes against malaria in his country, but noted that the “need remains sizeable.” And Zambia’s Minister Musokotwane echoed this conclusion, calling malaria “an obstacle to development.”

A pivotal moment in the World Bank's history

Peter Stephens's picture

These Spring Meetings will probably be remembered for the capital increase – the first in 20 years – and the historic changes to the voice and representation of developing countries within the Bank. They are important milestones, and deserve to be recognized. But something much more profound is happening within the Bank, something that historians will look back on and regard as a pivotal moment in the organization’s evolution.

The key to understanding what is underway is Mr. Zoellick’s speech to the Woodrow Wilson Center on April 14. This was probably the most important speech by a Bank president since McNamara’s Nairobi speech of 1973 – even more important, I would argue, than Mr. Wolfensohn’s 1996 speech on corruption.  For the first time in many years, the Bank is at the leading edge of thinking about global trends. Mr. Zoellick’s blunt declaration that the era of the Third World is over and a new, more complex arrangement is emerging, challenges everyone at the Bank and everyone working in development to think and act differently. It sets in context why the reforms underway across many areas of the Bank are really necessary, why we need a new approach to investment lending, to knowledge, to our location and operation as a global bank. 

Peter Stephens on World Bank Reform

The end of the Third World does not mean that there are no poor countries, or that all countries are equally advantaged. It means the landscape has changed so much that our thinking and behavior must shift. To think of China, India, Brazil, Mexico, Russia, South Africa and Malaysia as developing countries seems anachronistic. Yes they have poverty and challenges, but… “developing”? They play a regional and global role of real significance. They have civil servants, academics and businesspeople as skilled as (and many more skilled than) World Bank staff. Developing just doesn’t capture it.

World Bank gets capital increase and reforms voting power

Sameer Vasta's picture

2010 World Bank Group / International Monetary Fund Spring Meetings Development Committee Meeting.

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.

Why crossing the Congo was so special

Eva Jarawan's picture

Eva Jarawan in the DRC

Even during the busy Spring Meetings here in Washington, my thoughts keep going back to two places I visited this month that lie on either side of the Congo River. I crossed the great river by boat from Brazzaville to Kinshasa, a special journey for many reasons. In Brazzaville, capital of the tiny Republic of Congo, I’d been impressed by the quality of leadership in managing additional financing for one of our projects which addresses HIV/AIDS, and on the other side of the river, I was returning to the Democratic Republic of Congo after a long gap, to find that a health systems rehabilitation project I’d worked on many years ago was in fact thriving and delivering good results.

Today being World Malaria Day, I must register that I saw some extremely useful work going on in Kikimi, a very poor neighborhood near Kinshasa. Our partnership with local NGOs to provide better health services across DRC looks like it’s working well here. Instead of just being shown reports on inputs and equipment, which I’ve found frustrating in the past, this time I met a large number of women who told me about insecticide-treated bed nets they’d received during routine visits to their health center and how useful these nets were to prevent malaria. I saw pharmacy shelves well-stocked with malaria drugs, oral rehydration therapy for diarrhea, and basic antibiotics. The project wasn’t perfect but it was delivering results that I could see with my own eyes.

Jean Ping on information and communications technology

Sameer Vasta's picture

Jean Ping, African Union Commission Chairperson

Jean Ping, Chairperson of the African Union Commission, at the World Bank/IMF Spring Meetings on April 23, 2010:

"ICTs [Information and Communications Technology] can be the single most important tool of our generation if given the right environment."

What do you think?

Scaling Up Nutrition: Remembering the 'Forgotten MDG'

Julia Ross's picture

April 24, 2010- Washington DC. World Bank/IMF Spring Meetings. Meeting for a high-level nutrition roundtable in Washington—co-hosted by Canada, Japan, the United States, through the U.S. Agency for International Development (USAID), and the World Bank—ministers and other senior representatives heard how better nutrition. John Rwangombwa, Minister of Finance and Economic Planning, Rwanda

The consensus at today’s high-level meeting on “Scaling Up Nutrition” was this: the world can do better for its hungry children.  Many of the Ministers and donor agency leaders who spoke at the event acknowledged the global commitment to fighting malnutrition had fallen short.  As many as 3 million mothers and young children die each year due to lack of nutritious food.

OECD figures show that development aid for nutrition has been modest, with commitments of less than $300 million a year – one reason why nutrition has been labeled the “forgotten” Millennium Development Goal.

Higher education in Africa – time to pull out the stops

Christopher Thomas's picture

Higher Education in Africa

At a candid discussion yesterday with African ministers of education and a range of education experts from the public and private sectors, one thing was very clear – that higher education was recognized by everyone in the room as being critical for Africa’s development in the 21st century. All participants—from the Gambia’s education minister, who pointed out that his country went without a university for 30 years after independence and was facing a severe resource gap, to his counterpart in Senegal who wanted to catch up with Tunisia on the number of students enrolled in universities—agreed that higher education was key to diversifying Africa’s growing economies and reducing their dependence on natural resource extraction. 

There’s another reason higher education is so important in Africa—the region has burgeoning numbers of young people, some 7 to 10 million of whom knock on the doors of the labor market every year. These young people constitute a huge opportunity for Africa. Yet of today’s unemployed in the region, a full 60 percent are youth. Good quality, relevant education that goes well beyond the primary stage will turn out the types of employable graduates and professionals that Africa so urgently needs. Doctors, nurses, lawyers, engineers, and entrepreneurs—but also agriculturists and environmentalists. This morning’s news about intensifying drought in West Africa’s Sahel region, with 10 million people thought to be short of food, only underscores the great urgency to build human resource bases in each country that can help tackle the environmental and health issues that confront Africa.

TEDx World Bank Group focused on gender, agriculture, climate change, and water

Bahar Salimova's picture

Kojo Namdi at TEDxWBG

Yesterday, I attended the TEDxWorldBankGroup event, entitled Global Challenges in the New Decade. This first TEDxWorldBankGroup event was organized by the Independent Evaluation Group (IEG) to add to the critical discussions taking place during the Spring Meetings. The event aimed to encourage conversation on gender, climate change, agriculture and water, and to find possible solutions to these global issues.  

The speakers at the event were great and made excellent points about each of the chosen issues. One of the takeaways from the event was that the development community should act as one in addressing critical issues and take a wholesome approach to resolving global challenges instead of tackling them piecemeal.

Jason Clay, Senior Vice President of Market Transformation at World Wildlife Fund (WWF), who presented on water issues at the event said that every time the development community tries to maximize efforts in one area, it takes away from another; therefore looking at all of these issues as a whole is the most effective way to solve them for the future generations.

Stepping up engagement with civil society

Molly Norris's picture

“Engagement with civil society has stepped up in so many ways—in terms of quality and also in terms of quantity. This engagement is critical because we have different roles that we can play. I think that there is a realization between civil society and the World Bank that we have a single mission and we need to forge ahead towards that mission.”

Compelling issues of the day drew the highest volume of civil society organizations to register for this year than ever before for Spring Meetings, though volcanic ash caused some panels to be cancelled, according to Edith Grace Ssempala, a World Bank senior advisor.  Talks ranged from the ongoing effects of the financial crisis to the Bank’s energy strategy and new Access to Information policy. 

Africa's Pulse: Now is the time to invest in Africa

Herbert Boh's picture

Africa's Pulse, a new publication highlighting economic trends and the latest data in sub-Saharan Africa, launched on Friday with a clear message: this is the time to invest in Africa.

At the launch, World Bank Africa Chief Economist Shanta Devarajan explained that, "although Africa was the hardest hit by the crisis, its recovery has been so remarkable that we could be at the beginning of what history will describe as Africa’s decade."

The outlook isn't all rosy, of course. With the global financial crisis halting the steady rate of growth in the region, Africa will now likely miss most of the Millennium Development Goals (MDGs) by their 2015 deadline, despite the remarkable progress. n estimated 7-10 million more Africans were driven into poverty and about 30,000-50,000 children died before their first birthday because of the crisis.

Bank VP Obiageli Ezekwesili on the importance of the capital increase

Angie Gentile's picture

 
This weekend, shareholders gathered for the Spring Meetings in Washington, DC, will decide on a request to replenish the World Bank Group’s capital base. The request comes in the wake of unprecedented demands for the Bank’s financial assistance stemming from the global economic crisis.

In a recent speech at Harvard University, Africa Region Vice President Obiageli Ezekwesili outlined the importance of the capital increase as a critical source of funding for the International Development Association (IDA), the concessional window of the World Bank that provides grants and interest-free credits to low-income countries; the majority of which are in Africa. IDA will be seeking its 16th replenishment in 2011.

Civil Society Forum: Haiti response shows need for collaboration

Sameer Vasta's picture

Large parts of Haiti's capital of Port-au-Prince have been destroyed by a 7.3 magnitude earthquake on 12 January. Photo taken on 15 January 2010.. Photo: IFRC/Eric Quintero

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.

One such example of collaboration and partnership was in the sharing of Bank geo-spatial data with community groups like Random Hacks of Kindness and CrisisCamp. (More on the Bank's new open data initiative here.)

Putting safe water on the development agenda

Christopher Walsh's picture

April 23, 2010 - Washington DC., World Bank/IMF Spring Meetings. Water and Sanitation Event.

Not even the eruption of Iceland’s Eyjafjallajokull could keep the Netherlands’ Prince of Orange, the chair of the UN Secretary General’s Advisory Board on Water and Sanitation, and the World Bank’s Ngozi Okonjo-Iweala from participating in a Davos-style panel discussion of solutions for the 2.6 billion people who still lack access to sanitation.

The BBC’s Katty Kay moderated today’s official Spring Meetings event, which also included South Africa’s Minister of Water and Environmental Affairs Buyelwa Patience Sonjica; Senior Deputy Assistant Administrator at USAID’s Bureau for Global Health Gloria Steele; Ek Sonn Chan from Cambodia’s General Director of the Phnom Penh Water Supply Authority; and IFC’s Executive VP Lars Thunell.

I haven’t seen the Bank’s J building mini-amphitheater filled with that much energy since, well, ever.  The standing room-only event started with a delighted Ngozi acknowledging the crowd for bringing the issue of water and sanitation to such a high level on the occasion of the Spring Meetings.

Europe and Central Asia facing a slow recovery

Sameer Vasta's picture

April 23, 2010. Washington DC - World Bank/IMF Spring Meetings . Europe and Central Asia regional press briefing. Philippe Le Houerou, Regional Vice President for Europe and Central Asia. Photo: © Simone D. McCourtie / World Bank

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."

Photographers jostle and nudge for the perfect shot of a dark suit

Alison Schafer's picture

Photographers prepare to snap EU leader, 22 February 2009

One of the benefits of working the spring meetings is getting to watch the press at work (work which is really a lot of waiting around for things to happen).

But occasionally, everybody rushes off to earn their paychecks.  And the ones who rush fastest are the still photographers. When they move, you know something is happening.

At Bob Zoellick’s kick-off press conference on Thursday, about 15 still photographers lurked in the bottom of the IMF building, their lenses gleaming in the dim light. It appears to be a macho business, capturing the perfect image of that prolific species, the DC policy maker.

A minute before Zoellick arrives, a staffer gives a heads up. A brief hush and then the photographers pick up their cameras and their foot long lenses (big enough to photograph a lion far across the watering hole) and rush to get the best angle. All 15 of them want to stand in the same spot, of course, and so they jostle and nudge and, when Zoellick sits down, retreat back to their lair just below the dais.

Then comes the talk, and most of the photographers tune right out. They’re waiting for movement—anything even remotely resembling action—so if Zoellick raises his hand off the table, or makes the most minimal gesture, they leap into gear. And the whirr of their lenses is just about loud enough to drown out the talking.  What they don’t want is just “a head”—press corps lingo for just another dude in a navy blue suit. They want something, anything, that makes this picture of a guy in a navy blue suit different from last week’s.

Global Monitoring Report 2010: What about Population Growth?

Merrell Tuck-Primdahl's picture

April 23, 2010 - Washington DC., World Bank/IMF Spring Meetings 2010. Global Monitoring Report: The MDGs after the Crisis.

Measuring human progress is a messy, complicated effort. The Millennium Development Goals, or MDGs, are an effort to bring some standardization to that process, but the 8 globally agreed goals are viewed by some as a construct that handicaps the poorer countries into a race where they started a lap behind many other nations.

It's 10 years since the goals were agreed and 2010 has been designated the 'Year of the MDGs' by the UN and its partners. If all this helps feed hungry families, educate more kids and increase the distribution of antiretroviral drugs, I'm all for it. Good thing I feel that way, since I was working with the team that launched the Global Monitoring Report 2010: The MDGs After the Crisis on April 23.

Yet beyond the goals, targets and exhortations, as well as useful forecasts of extreme poverty rates in 2015, I wonder about the elephant in the room: population growth.

A focus on gender issues at the Spring Meetings

Sameer Vasta's picture

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.

Gender is also getting special attention this year from IDA (International Development Association) deputies as they deliberate the current round of funding known as the IDA16 replenishment.

Spring Meetings: What’s on the agenda?

Angie Gentile's picture

Development Committee meeting. Photo: © Simone D. McCourtie / World Bank

“Spring Meetings” is the name used to describe a series of events—seminars, roundtables, press briefings and official meetings—spread over five or so days every year and all geared toward one thing: improving the lives of people in the developing world.

Discussions throughout the week focus on a broad range of topics (see meetings and civil society forum schedules) and are in many ways a prelude to the main event—the official meeting of the Development Committee—a group of 24 finance and development ministers appointed by each of the countries, or groups of countries, represented on the Boards of Executive Directors of the Bank and Fund. This year's meeting is set for Sunday, April 25.

The Development Committee meets twice a year and advises the Boards on critical development issues and on the financial resources needed to promote economic development in developing countries. The President of the Bank has a special responsibility to propose topics that he believes require the ministers’ attention.

This year’s agenda, just announced, includes:

  • Strengthening Development after the Crisis: World Bank Group Post-Crisis Directions, Internal Reforms and Financial Capacity
  • World Bank Group Voice Reform: Enhancing Voice and Participation of Developing and Transition Countries in 2010 and Beyond

Better drug supply chains keep thousands more children alive

Monique Vledder's picture

On April 21, a few days before World Malaria Day, we announced some very encouraging results from a pilot project in Zambia through which we were testing various improvements in the public sector supply chain for lifesaving drugs. What we had been trying to do, with support from DfID and USAID, was to remove bottlenecks and get key supplies like pediatric malaria drugs off the shelves in district storage facilities and out to patients in rural areas on time.

When private sector techniques--like hiring someone to plan drug orders based on actual consumption in rural public health centers--were used to strengthen the public sector supply chain, we saw that the availability of pediatric malaria drugs nearly doubled in rural health centers in the 16 pilot districts.

This is a very significant finding, as just 7 percent of children in rural Zambia receive first-line treatment for malaria within 24 hours of developing fever (Zambia National Malaria Indicator Survey, 2008). We estimate that if these techniques are scaled up nationwide, 27,000 children could be saved from malaria deaths between now and 2015—cutting child mortality from malaria by 37 percent in Zambia.

From Collapse to Recovery: Latin America and Caribbean rebound from crisis

Carlos Molina's picture

With the global economic crisis in the rearview mirror, Latin American economies are on a fast track to full recovery and will post a solid 4 percent growth for 2010.

This is no small feat, says the Bank’s chief regional economist Augusto de la Torre, in his new report on the region’s economic prospects ‘From Collapse to Recovery’ (pdf). The region’s rebound, he explains, is one of the world’s strongest, second only to Asia’s, which is the main engine pushing global economies towards a full-fledged recovery.

Closing the net gap in advance of World Malaria Day

Melanie Zipperer's picture


 

 In most cases, achieving real development outcomes on the ground is very complicated. But in the case of protecting people from malaria, it is simple. The disease is easily preventable and treatable.

On the prevention side, we know that insecticide treated nets work. So, everybody in countries with high malaria prevalence should have one. 200 million mosquito nets have been already delivered across sub-Saharan Africa.

This is protecting half of the world’s population at risk. 100 million more are being produced and delivered. But we still need 50 million more nets to ensure that people in danger are protected. That's why the World Bank today closed half that gap by providing funding for an additional 25 million nets.

One more promise kept: the Global Agriculture and Food Security Program

Fionna Douglas's picture

Launch of Global Agriculture and Food Security Program

A remarkable thing happened at the US Treasury in DC today; the United States, Canada, Spain, South Korea and the Bill and Melinda Gates Foundation agreed to pool resources, and as Bill Gates described it, “put small holder farmers, especially women, front and center” of a new multilateral agriculture and food security program. The Gates Foundation will contribute $30 million.

The Global Agriculture and Food Security Program (GAFSP) will focus on increasing agricultural productivity and linking farmers to markets. A special feature of the program is the focus on country ownership that puts countries in the driver’s seat.

The GAFSP was created in response to a call from G20 leaders last year for the World Bank to work with interested donor to set up a multi-donor trust fund to implement some of the $22 billion in pledges made by the G8 leaders at L’Aquila, Italy.

Zoellick: ‘Spring Meetings a turning point for World Bank’

Angie Gentile's picture

April 22, 2010 - Washington DC., World Bank/ IMF Spring Meetings. World Bank President Robert B. Zoellick, opening press conference. Photo: Simone McCourtie/World Bank.Bank President Robert Zoellick just gave his traditional pre-Spring Meetings briefing to the press, where he talked about a multipolar world economy and how the World Bank is changing to meet the needs of a new reality.

“Economic and political tectonic plates are shifting,” he said. Developing countries are key sources of demand for recovery from the crisis, and “over time, they can become multiple poles of growth.”


 

Zoellick said the Spring Meetings represent a turning point for the World Bank. Over the weekend, the institution’s 186 shareholders will be considering four issues:

  • the first capital increase in more than 20 years
  • whether to give developing countries a bigger say in the running the institution
  • the Bank’s post-crisis strategy, and
  • the most comprehensive reform program in the Bank’s history.

"Agreement on this package of measures, if successful, would represent a multilateral success story,” he said.

 
For more information:

 

Celebrating Earth Day and biodiversity

Sameer Vasta's picture

April 21, 2010 - Washington, D.C. 2010 Global Tiger Initiative event with World Bank Group President Robert Zoellick.Photo: © Ryan Rayburn/World Bank

Happy Earth Day!

In advance of the Spring Meetings and just in time for Earth Day, the Bank kicked off its support for International Year of Biodiversity on Wednesday with a new edition of its flagship magazine, Environment Matters.

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."

World Development Indicators 2010 launched on data.worldbank.org

Richard Fix's picture

World Bank/IMF Spring Meetings2010 - World Development Indicators 2010 Launch and Open Data Initiative announced. Justin Lin, World Bank Chief Economist talks about free data.

We launched the 2010 World Development Indicators today, except this year we launched it on data.worldbank.orgthe Bank’s new open data site that frees up more than 2,000 indicators previously available only to paying subscribers. We’re pushing to share our data with the world, and the WDI is a wonderful platform for this. Year after year, we pull together data from many places—across international agencies and countries-- in one place to draw a statistical image of the world. This year, whole new audiences will be able to access our work.

Since I joined the Bank, I have worked with a team of economists, statisticians, and others to produce a new WDI each year. Every April, we unveiled a new edition that revealed new facts about development. It was our chance to describe development by the numbers. But the numbers were not enough. We needed to explain the numbers, make it easier for others to pull knowledge from all these facts. The essays, the detailed descriptions and definitions of the data were a step in the right direction, but we needed to do more.

Spring Meetings 'Can Represent a Landmark in Bank's History'

Angie Gentile's picture

Delegates, civil society members and press from around the world are set to converge in Washington for  the World Bank-IMF Spring Meetings. (See the schedule of events.) The week is packed with meetings, briefings and lectures covering topics ranging from strategies for post-economic crisis recovery to the first effort in 20 years to raise capital for the World Bank.

But many continue to wonder what the fallout will be of the eruption of Eyjafjallajokull in Iceland last week--from the effects on countries to disruptions in international air travel.

Zoellick: End of the Third World?

Julia Ross's picture

April 14, 2010 - Washington DC - World Bank Group President Robert B. Zoellick speaks at Woodrow Wilson International Center for Scholars in Washington DC

Setting the scene for next week’s Spring Meetings, World Bank President Robert Zoellick said today the world has changed since the financial crisis, the third world is gone and we now live in a multipolar economy.

At Washington, D.C.’s Woodrow Wilson Center for International Scholars, Zoellick told an audience of diplomats, economists and international development specialists, “We are now in a new, fast-evolving, multipolar world economy, in which some developing countries are emerging as economic powers; others are moving towards becoming additional poles of growth, and some are struggling to attain their potential within this new system.”

“It is time we put old concepts of First and Third Worlds, leader and led, donor and supplicant behind us,” he said.

The speech drew several questions on the Bank’s response to the financial crisis and how it is helping developing countries adapt to the new global economy Zoellick described.