World Bank chief says globalization must benefit the world's poor
11/10/2007 16:23
World Bank President Robert Zoellick said yesterday that globalization
must be "inclusive and sustainable" and benefit the world's poor.
"It is the
vision of the World Bank Group to contribute to an inclusive and sustainable
globalization -- to overcome poverty, enhance growth with care for the
environment, and create individual opportunity and hope," Zoellick said in a
speech at the National Press Club, marking his first 100 days in
office.
"Globalization offers incredible opportunities," said the former US
diplomat. "Yet exclusion, grinding poverty, and environmental damage create
dangers. The ones that suffer most are those who have the least to start with --
indigenous peoples, women in developing countries, the rural poor, Africans, and
their children."
The World Bank chief, who took office after Paul Wolfowitz
resigned over a benefit scandal, said World Bank will assist countries to help
themselves by catalyzing the capital and policies.
"It is the purpose of the
Bank Group to advance ideas about international projects and agreements on
trade, finance, health, poverty, education, and climate change so that they can
benefit all, especially the poor seeking new opportunities," he
said.
"Inclusive globalization is also a matter of self-interest. Poverty
breeds instability, disease and devastation of common resources and the
environment," he warned.
To help the poorest countries, Zoellick announced
the World Bank Group was leading the way by pledging US$3.5 billion of its own
resources to the International Development Association (IDA), which provides
grants and interest free loans for the 81 poorest countries.
Zoellick also
called on the developed countries to follow the Bank's lead and increase their
support for the world's poorest people, especially in Africa and South and East
Asia.
"I wanted all donors to know -- in concrete terms -- that the World
Bank Group will 'put its money where its mouth is' when it comes time to
boosting IDA," he said. "Now we need the G-8 and other developed countries to
translate their words from Summit declarations into serious numbers,
too."
Xinhua
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