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The World Region

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."

Ngozi Okonjo-Iweala recaps the 2009 Annual Meetings

Sameer Vasta's picture

I'm back from Istanbul today, looking back at some of the important events and messages that came out of the 2009 Annual Meetings. Before we all left Istanbul, however, Alison caught up with World Bank Managing Director Ngozi Okonjo-Iweala, and asked her to provide a short recap of the Meetings.

 

Global business leaders announce initiatives for women

Sameer Vasta's picture

Student at Shreeshitalacom Lower Secondary School. Kaski, Nepal. Photo: © Simone D. McCourtie / World Bank

This past Sunday, at an event co-hosted by the Hüsnü M. Özyegin Foundation, global business leaders came together to discuss the impacts of the ongoing economic crisis on women. The event culminated in the announcement of several new partnerships to support women around the world.

Highlights of the new partnerships and initiatives announced at the event include:

  • The Özyegin Foundation and Goldman Sachs will expand the Goldman Sachs 10,000 Women program to Turkey.
  • Boeing announced Forum member efforts to track and spend $2 billion over the next three years on goods and services from women-owned businesses in supply chains.
  • Belcorp announced a partnership with the World Bank to train 50,000 women in financial literacy in Latin America.
  • McKinsey presented their new research, “The Business of Empowering Women,” which maps out potential business sector contributions across women’s life cycles.

 

The new normal

James Bond's picture

Representatives of chambers of commerce and private sector promotion agencies from developing countries expressed their concerns about where the new sources of growth would come from in future years, at a meeting of the World Bank Group's Private Sector Liaison Officers held in Istanbul on October 5.

A lively discussion between the PSLOs and MIGA management covered subjects relating to foreign direct investment into emerging economies, as well as investments by emerging economies into other emerging economies ("South-South" investment). 

There is a real concern about how the infrastructure gap in developing countries will be filled following the crisis, given the new scarcity of private funds for public-private partnerships. 

Annual Report 2009 distributed at the Annual Meetings

Can Kevenk's picture

2009 Annual ReportWe started distribution of the World Bank Annual Report 2009 this morning at the Annual Meetings in Istanbul. The free publication, outlining the Bank's activities in fiscal year 2008, is available for journalists, government officials, civil society organizations, academic and public libraries — and anyone else interested in learning more about the Bank and what it does.

The report summarizes the Bank Group’s commitments and approved projects during the recently completed fiscal year, and also includes a CD with complete financial information and a slideshow summarizing the regional, sectoral, and thematical categorization of funding.

I had a chance to work with the team that was preparing the Annual Report this year. Our goal was to put together a colorful and easy-to-read summary of the Bank’s development activities for everyone who is interested. Photos from the project sites and personal stories about recent Bank Group projects from all around the world are featured in this year’s report. All six of the Bank’s regions are presented with a regional snapshot as well as the summaries of funding operations taking place.

This year, the Annual Report 2009 website has been enhanced in terms of design, online content, and interactivity. The site includes interesting videos about recent projects taking place in the field. The PDF version of the Annual Report is downloadable in 8 different languages from the website. You can also view the whole ‘Year in Review’ with our interactive widget.

Agreement on climate change financing: 'the greatest economic stimulus of all'

Angie Gentile's picture

Morocco. Photo credit: © Curt Carnemark/World Bank

At a Program of Seminars session Monday on “Greening Recovery, Seizing Opportunities,” more than 300 people turned out to hear experts such as Nobel laureate Joe Stiglitz and UNEP Executive Director Achim Steiner outline how “green” investments are being used as parts of economic stimulus packages.

They were joined by Luciano Coutinho (President, BNDES – Brazilian Development Bank), Yoon-Dae Euh (Chairman, Korean Presidential Council on Nation Branding and Chairman, Steering Committee, Korean Investment Corporation), and Hasan Zuhuri Sarikaya (Undersecretary, Ministry of Environment and Forestry, Turkey).

For Stiglitz, the principal question now in responding to the financial and economic crisis is how to increase global aggregate demand. Instead of increasing consumption, he said, more funding should go to increase investment – particularly green investment.

World Bank reforming to meet new challenges

Angie Gentile's picture

October 6, 2009 - Istanbul, Turkey. World Bank/IMF Annual Meetings 2009. Opening plenary session.

The World Bank is pursuing an ambitious program of reform to enable the institution to become more efficient and effective while also gaining more legitimacy among the developing countries that it serves, Bank President Robert Zoellick said today.

In a speech at the start of the World Bank-IMF annual meetings, Zoellick said the World Bank’s reforms would focus on improving development effectiveness, promoting accountability and good governance, and continuing to increase cost efficiency.

“To serve the changing global economy, the world needs agile, nimble, competent, and accountable institutions,” Zoellick told the meeting of the Board of Governors of the World Bank Group. “The World Bank Group will improve its legitimacy, efficiency, effectiveness, and accountability, and further expand its cooperation with the UN, the IMF, the other Multilateral Development Banks, donors, civil society, and foundations which have become increasingly important development actors.”

Bank Group receives support for more funds, expanded ‘voice’

Angie Gentile's picture

October 5, 2009 - World Bank/IMF Annual Meetings Istanbul, Turkey. Press Briefing. World Bank President Robert B. Zoellick. Photo credit: Simone D. McCourtie/World BankThe joint World Bank-IMF advisory body, known as the Development Committee, committed to the G20’s call for more resources for the Bank to help developing countries respond to the global economic crisis.

Concluding its first day of talks on the Bank’s work and impact at the 2009 annual meetings, the committee expressed support for a general capital increase, a multibillion multilateral food trust fund, and a new crisis facility for the world’s 79 poorest countries.

The Development Committee also agreed to “voice” reform to ensure developing countries get a bigger say in how the institution is run—an increase of at least 3 percentage points in voting power, in addition to the 1.46 percent already agreed. This would give them a share next year of at least 47 percent.

In a statement issued Monday, the Development Committee set a definite decision point for shareholders for Spring 2010 on IBRD and IFC capital needs and “committed to ensure that the World Bank Group has sufficient resources to meet future development challenges.”

The committee noted the Bank’s “vigorous response” to the crisis, including a tripling of IBRD commitments to $33 billion this year and IDA reaching a historic level of $14 billion. They also said that IFC, which has invested $10.5 billion and mobilized an additional $4 billion through new initiatives, “combined strong innovation with effective resource mobilization.”

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