10. Speeches of World Bank Presidents [collection under construction]

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Speech at the Multi-Sectoral Conference on Partnerships for Governance and Development

( 2000-02-26) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, noted that we face a worldwide challenge as the population in developing countries grows. What sort of conditions are those people going to live in? Is there going to be equity? Social justice? Peace? The world has changed in the last 50 years, with the private sector and market-oriented economies prevalent, with a more dynamic civil society. In the Philippines, one in three live in poverty. Addressing this must be done in a cooperative way. The Comprehensive Development Framework brings together stakeholders. Social programs will only work if there is an effective structure involving these elements: the first element is strengthening governance; second element is a proper legal and judicial system; third element is the issue of financial supervision and control; fourth element is social system in place; and fifth element is the issue of corruption. The issue of implementation and the issue of transparent review and accountability are tremendously important.
Remarks on the Comprehensive Development Framework

( 2000-02-23) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, remarked that the overwhelming pressure on the planet is a concern that affects all of us. The pressures on the environment, on health, on trade, on crime, on growth, on drugs, on immigration—all bring us close together in one planetary context. The Vietnamese economy is facing these issues as it tries to accommodate all these factors at the same time: the pressure of competition—competition for investment, the desire to relate the country to the international trading system, and the desire to create an environment which is hospitable to domestic and foreign investors and which spreads the wealth throughout in an equitable way. Through the Comprehensive Development Framework, the country should lead its citizens, civil society, the private sector, and the international institutions to set up not a series of projects but programs. These programs will identify the issues to be addressed over the next 10 years or 15 years. There needs to be some comprehensive form of review of process, and review of plans so that one can have an integrated approach, an approach that can be leveraged, that is participatory and that engages each sector of society.
Coalitions for Change

( 1999-09-28) Wolfensohn, James D.

World Bank Group President, James Wolfensohn addressed the Board of Governors. In the past year the Bank launched a new initiative—the Comprehensive Development Framework (CDF). The aim was to bring the social and the structural aspects of development together with the macroeconomic and the financial so as to establish a much more balanced and effective approach. The Bank will work with the broad development community—the United Nations, the European Union, bilaterals, regional development banks, civil society, and the private sector—to build genuine partnerships. The CDF is now being piloted in 13 countries. The general experience reviewed that strengthening the organization, human capacity, and the structure of the state, both at central and local levels, is the first priority to reduce poverty. The speaker also called for a coalition for change in the new international development architecture in the face of globalization.
Remarks at the Bretton Woods Committee Annual Meeting

( 1999-06-09) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the Bank’s focus on the social sector. Since the realignment of the focus of the Bank after the initial objectives of the Bretton Woods agreements for the reconstruction after World War II were met, the more recent and continuing focus has been on development and on the issues of poverty and the issues of sustainable development. On the Bank’s agenda are: first, good governance; second, the legal and justice system; third, an effective supervisory mechanism for banks and capital markets; and finally, a social safety net to deal with the impact of financial crises upon the poor.
Development: A Coin with Two Sides

(International Herald Tribue, 1999-05-05) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, writes that development economics is the discipline that addresses the world's most enduring problem: persistent and widespread poverty. Within this deprivation is another dimension: hundreds of millions of girls and women whose lives are diminished and shortened by inadequate economic means and discrimination in social status and medical attention. The end of the cold war has been accompanied by a growing recognition of the importance of political, social, and economic participation, by widespread demands for human rights and gender equity, and by an emerging globalized economy. This offers an unprecedented opportunity to make development work. There is a need for effective and impartial legal and justice systems, with protection of and positive support for rights and freedoms of various kinds, a well-organized and supervised financial system, effective social safety nets, and essential social programs.
Remarks at the Council of the Americas

( 1999-05-03) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, reassessed the global financial architecture and its impact on Latin America. Latin American countries, being small economies, are very vulnerable to world pressures. After a huge drop in private sector finance, we’re seeing the first signs of return. What we need now is greater transparency and supervision in banking and the private sector—and a better common set of principles and standards. We need decent government, trained government, with capacity at all levels. We need legal systems that work. We must ensure social safety nets are in place. The things that bring about equity in a society are education and knowledge. Latin America’s kids need stability and social justice.
Walter Sterling Surrey Memorial Lecture

( 1999-04-07) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the international development framework; legal and justice system; financial supervision and control at the level of banks, financial markets, capital markets, leasing, and agricultural banks; and social safety net and a social structure to come up with programs for privatization in the former Soviet Union. Governments must be the dominant power in deciding the development agenda. In partnership with a country’s government, the Bank agrees upon a Comprehensive Development Framework.
Keynote Address

( 1999-03-06) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed first, governance and corruption; second, legal and justice system that works; third, financial system to supervise and monitor what is going on in the banks and in the financial sector; and fourth, social system that works to protect people who are out of work, the aged, children, the disabled, and persons that are vulnerable. The leading companies are doing a fantastic job and it is hoped that perhaps with European Institute of Business Administration (INSEAD) can get some leadership in terms of recognition that the future is dependent on peace and social development.
Foundations for a More Stable Global System

( 1999-03-01) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the global financial architecture and developing countries. A stable financial architecture cannot be achieved without the proper structural, institutional, social and human foundations needed to make a modern market economy work. He identified the elements that should guide the choices of national governments, and the work that international institutions can do to assist them, and partnerships and co-operation between institutions. These include, first, good governance, strong public institutions, and a system that fights corruption; second, strong legal and a justice system able to guarantee the execution of those laws; and third, a well-regulated financial superstructure. Our social agenda should begin with those elements at the very heart of ensuring an opportunity at all levels of society: a good health system and an education system available to boys and girls equally. The environment is a crucial element in our foundation. We must resist a one-size-fits-all approach. At the Bank we work toward a comprehensive development framework agreed with each partner country.
Remarks at the International Conference on Democracy, Market Economy, and Development

( 1999-02-26) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed what the Bank learned in coming to look at the issues of poverty and development. Development requires proper economic policies, but also the essential element of the social aspects and human aspects of society. The Bank’s focus is to think first in terms of poverty—fighting poverty with passion was adopted recently as the first line of our mission statement. Wolfensohn discussed an agenda for action on the issues of inclusion, corruption, transparency, education, knowledge, and private sector environment. How we attack this agenda must be a partnership between governments, multilaterals, such as the Bank, and the bilateral institutions, the private sector, and civil society in all its forms—from non-government organizations (NGOs) to trade unions, from religions to foundations, from spokesmen for ordinary people.