D. Speeches by Paul Wolfowitz (2005-07)
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Paul Wolfowitz served as 10th President of the World Bank Group from 2005 to 2007.
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Roundtable Discussion on Economic Development, Georgia State, GA, December 11, 2006
( 2006-12-11)Paul Wolfowitz, President of the World Bank, and Ambassador Andrew Young engaged in a roundtable discussion on economic development, moderated by Dean Bahl of Georgia State. Wolfowitz has made Africa the first priority of the Bank. There is really a chance for Africa to turn the corner. It’s going to have to start with the best performers, doing what the so-called Tigers did in East Asia, showing the way for other countries. Young said you can make more money honestly in a growing economy, than you can steal in a dying economy. Wolfowitz gave examples of the turnaround in Africa. Africa needs an environment where foreign investment support and local domestic investment is even more important. -
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Why Africa Matters to Americans
( 2006-12-10)Paul Wolfowitz, President of the World Bank, talked about a new generation of leaders emerging in Africa, who increasingly recognize their responsibility to their people. The landscape across Africa is changing. Conflicts diminish. Small Businesses emerge. We are seeing a new breath of hope infused in all parts of that continent. More and more Africans are saying they can’t live with corruption. Strong U.S. support for foreign aid is particularly important to help address issues important to Americans, issues like government transparency, anti-corruption, and civil society participation. Wolfowitz concluded that it will be up to Africans most of all to bring about the momentous changes needed to conquer poverty. But as Americans we must be able to say that we did everything we could to give them the hand that they need and deserve. -
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Africa: The Road to Opportunity
( 2006-10-18)Paul Wolfowitz, President of the World Bank, remarked that the past-quarter century has to count as the most successful 25 years in history in the fight against poverty. The one region that has so far been conspicuously left behind by that progress is Sub-Saharan Africa. The people of Africa are hard at work building a more hopeful future for their continent. There is no shortage of energy, ambition, or entrepreneurial spirit. What are most severely lacking are resources to support good plans and good ideas. For Africa and the poorest countries in the world a critical source of development funding comes from the International Development Association or IDA. France has been a leader in IDA in the past. The World Bank has responded with an ‘Africa Action Plan.’ Wolfowitz briefly discussed four key areas of focus: Education, Health, Private Sector Development, and Infrastructure. -
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Transparency in Extractive Industries
( 2006-10-16)Paul Wolfowitz, President of the World Bank, discussed the fight against poverty during the last 20 years, during which East Asian countries have made progress, but Sub-Saharan African poverty has doubled. Oil revenues far exceed official development assistance. Yet for some countries it has been more of a curse than a blessing. Corruption and waste has led to distorted economies and demoralized societies in which government power has become an object of plunder leading to civil war and social chaos. The Extractive Industries Transparency Initiative (EITI) aims to improve governance in resource-rich countries through disclosure and verification of company payments and government revenues from oil, gas, and mining. It focuses on transparency, which is one important aspect of governance—but it is an important step towards transforming resources into real development impact, to real effect on the lives of the poor. He spoke about EITI process still facing many challenges ahead. If EITI is to succeed, it must engage every group that has a stake in the country’s future. EITI process requires governments to significantly increase their capacity while coping with other pressing demands. Making EITI succeed means going beyond just EITI in making revenues more transparent. We need to begin a vigorous effort in the area of helping countries recover stolen assets. For most countries EI revenues by themselves will not be enough by themselves to guarantee higher living standards for all citizens. We must do everything we can to help these countries transform their wealth into a brighter future for every citizen. -
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Coordinating for Good Governance
( 2006-09-18)Paul Wolfowitz, President of the World Bank, discussed good governance, policies, and practice that are the means to achieve better development results. He spoke of sound principles of accountability and transparency that not only assure funds that are spent as intended, but also are essential to accelerating economic growth, helping the poor to escape poverty,and achieving the Millennium Development Goals. He highlighted the need to find solutions which are innovative and flexible and which respect the unique constituents and conditions in each country. He concluded by saying that the effort to strengthen and improve governance is a key element in the fight against poverty. -
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Foreign Aid: Challenges and Opportunities
( 2006-07-31)Paul Wolfowitz, President of the World Bank, discussed Africa’s challenge to unleash the energy of the people, and give people the opportunity to improve their lives themselves. He talked about the challenge of corruption. He appreciated Africa for improving policies to make it easier for new businesses to take off and for businesses that are established to expand. Africans are taking a lead in helping their continent turn the corner, and donors are raising the bar for development assistance to try to ensure that every dollar is used to create a healthier, better-educated, more prosperous Africa. Governance is taken seriously, with performance-based aid strengthening anti-corruption efforts. -
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On the Occasion of Georgia's Second Anniversary of the Rose Revolution
( 2005-11-22)Paul Wolfowitz, President of the World Bank, celebrated the second anniversary of the Rose Revolution in Georgia. He spoke about the evidence of reduced corruption in Georgia. Georgia had the second largest improvement in performance last year of any country in the world. In transforming its own society, Georgia sets an example for the region. He assured that Georgia can count on the World Bank Group as a committed partner. Finally, he concluded by saying that Georgian determination which shined so brightly in the Rose Revolution will continue to be a beacon supporting the Georgian ideals of freedom and prosperity.