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Remarks at Education Conference, Brussels, May 2, 2007
2007-05-02, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, spoke about Education for All being at the forefront of the development agenda. He spoke about four pillars to improve the education: (i) More aid: Education for all; (ii) Better aid: Quality of education that ensure the financial resources to align behind developing countries polices and strategies; (iii) Faster aid: New aid instruments and aid delivery mechanisms need to be used to ensure that resources are channeled fast to the local levels, where they are most needed; and (iv) Long-term predictable aid: Developing countries cannot develop comprehensive sector-wide strategies without being able to rely on foreign aid for more than 2 or 3 years. Moving forward, the World Bank will continue to expand our support for countries with good policies and help them build capacity.
Financing Clean Energy: A Framework for Public-Private Partnerships to Address Climate Change
2007-03-13, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, discussed how to meet the rising demand for energy while reducing our carbon footprint. Rich countries need to lead by example, renovating and replacing infrastructure and investing in clean technology. Rich countries also need to lead with direct support to developing nations, both to reduce poverty and reduce carbon emissions. Moving to a low carbon path will require investments, and a long-term equitable global regulatory framework to reduce greenhouse gas emissions. The Bank has been actively supporting climate-friendly solutions in four areas: efficiency and conservation, renewable energy, forest preservation, and adaptation to climate change.
Remarks at Building Science, Technology and Innovation Conference, Washington, D.C., February 14, 2007
2007-02-14, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, convened a forum to discuss strategies, programs, and policies for building science, technology, and innovation (STI) capacity to promote sustainable growth and poverty reduction in developing countries. He remarked that if you want to deal with poverty, you better keep science and technology and innovation, maybe especially innovation, in the picture. Education is a major ingredient of success, and investing in people, what economists like to call human capital, is one of the biggest contributors to growth and poverty reduction. Wolfowitz focused on upgrading technology and capturing the latecomer’s advantage; the role of research and development; and reversing the brain drain.
Roundtable Discussion on Economic Development, Georgia State, GA, December 11, 2006
2006-12-11, Wolfowitz, Paul, Young, Andrew
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.
Remarks at Annual Conference of the Parliamentary Network on the World Bank, March 16, 2007
2007-03-16, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, discussed governance and anticorruption being at the heart of Africa’s development future. He spoke of donor coordination and IDA’s work in the region.
On the 50th Anniversary of Ghana's Independence
2007-03-05, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, congratulated Ghana on its fiftieth anniversary that it has become one of the best performers economically in Sub-Saharan Africa, and is expected to meet the Millennium Development Goal to cut poverty in half. He spoke about World Bank partnership with the university to help create a facility that provides access to a wealth of development information for students, researchers, faculty, and the general public, and encourages all to take advantage of this new resource on the campus. Ghana faces challenges to boost the competitiveness of the private sector, an important engine for job creation. Ghana will need to invest heavily in infrastructure, and reform its energy sector, while ensuring sustained good governance. He concluded by saying that Ghana should inspire Africa by aiming higher, moving faster, taking bigger and bolder steps to achieve the future that the people of Ghana deserve.
Remarks at Liberia Partners Forum, Washington DC, February 13, 2007
2007-02-13, Wolfowitz, Paul
In his opening remarks, President of the World Bank, Paul Wolfowitz said that the international community needs to do much more and faster and take advantage of this unique opportunity that Liberians have now, after 25 years of instability, to take control of their destiny. Liberia’s $3.7 billion debt is clearly unsustainable and an unacceptable burden. He called on the international community to work together to clear the arrears so that the country can move forward. He paid tribute to what he terms as the “inspirational leadership of Ellen Johnson Sirleaf,” and added that this new hope must not be allowed to fade away. He said that “Those who remember the horror of the past can hardly imagine that Liberia has now become a place of hope.
Remarks at International Conference on Improving Governance and Fighting Corruption, Brussels, March 14, 2007
2007-03-14, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, discussed the fight for good governance and the fight against corruption. More and more African countries are taking on the challenge of corruption. It is important to work with the private sector to combat corruption in developing countries. It should be possible to work to strengthen systems in the country rather than trying to create parallel systems that bypass and, in the process, weaken indigenous systems. He noted the need to monitor progress and to work with donors on harmonization. A strong private sector creates jobs, opportunities for people to improve their own lives and even more importantly the lives of their children in honest work rather than in corruption. It is a virtuous circle where good governance leads to stronger development and stronger development leads to stronger governance.
Remarks at Washington Legislators Forum on Climate Change, Washington, D.C., February 14, 2007
2007-02-14, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, remarked that we are seeing today an emerging global consensus that we must do something about climate change. But equally important is the agenda to reduce poverty. We face this double challenge of reducing damaging carbon emissions, and still meeting the energy demands of the world’s poor. The role of the World Bank Group is to provide technical support to pilot innovative ideas, to work with countries to develop alternative strategies, and to listen and partner with the private sector which is going to provide much of the engine in innovation and financing. Carbon trading could generate resource flows in the order of $200 billion a year. The Bank is helping developing countries to move to a lower carbon path by exploiting renewable energy resources, supporting energy conservation, and increasing efficiency. Second, the Bank is playing a role is in promoting new technology. The third focus of the Bank is to prevent deforestation. Fourth, the Bank is among the leaders in addressing adaptation to climate risk by pioneering insurance work. We need to act sooner rather than later, today rather than tomorrow.
Lebanon Donors Conference--Paris III
2007-01-25, Wolfowitz, Paul
Paul Wolfowitz, President of the World Bank, remarked that Lebanon stands at a critical crossroad in the wake of the war in the previous summer. Lebanon now needs to go beyond reconstruction. He reviewed the implementation of the Lebanese Government’s economic and social reform program. The World Bank Group is providing financing support in three areas: first, the unprecedented step of providing grants from World Bank Group income for recovery and reconstruction. Second, the International Finance Corporation will provide 250 to 275 million dollars in financing for Lebanon’s financial and business community, including a guarantee program for small and medium-sized enterprises and a trade finance facility. Third, the Bank extended up to 700 million dollars in IBRD financing to support the implementation of the Government’s program, particularly its efforts to stimulate growth and to meet the needs of the poorest and most vulnerable elements of the population. The Bank is prepared to continue and intensify efforts in assisting the Government to implement its programs, to build institutional capacity, to improve procurement and financial management to undertake sector reforms, with a particular focus on those sectors such as power, which are key to the overall success of the program.The people of Lebanon have called on the world to help revive their economy. We have an opportunity to restore hope and stability that the Lebanese people and their children so deeply deserve.