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

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Challenges Facing the Bank in the 21st Century

(World Bank, Washington, DC, 2000-03-14) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the challenges facing the World Bank. The Bank is now working and trying to deal with the questions of poverty and equity. While poverty is rarely about the lack of one thing, but instead many, the bottom line is that poor constantly live with hunger. Poverty has important psychological dimensions such as powerlessness, noiselessness, dependency, shame, and humiliation. The poor lack access to basic infrastructure such as roads, transportation, clean water. The poor rarely speak of income but instead focus on managing assets and the environment, social and human.
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.
Rethinking Development: Challenges and Opportunities

( 2000-02-16) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed his vision for development, addressing these topics: poverty and the development agenda; rethinking the approach; the global trading system and the development agenda; and the partnership imperative. He concludes that the Bank must work to realize an ambitious vision if we are to go forward together into a new century in which the long pent up aspirations of the poor of the earth are to have the chance for fulfillment that they deserve.
Strategies to Fight the Globalization Trap

( 2000-01-31) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the concept of a globalization trap that have gotten support from quite a few critical publications recently. His concern with regards to globalization centers on two aspects of the problem. The first aspect is an increasingly imbalanced development path in which globalization is the reason for winner taking it all while the losers are left behind. The second aspect is that public interest is becoming secondary to individual interest, or turn it the other way around, globalization drives development, whereas government is at a loss to control it. An offensive strategy to fight the globalization trap is needed: the first aspect being a closer cooperation between the public and private sector to improve education and infrastructure, the second being to use the markets to solve problems rather than rely on government regulations, and the third is to make global communication facilities a tool for global cooperation.
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.
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.
Keynote Address on Preserving the Architecture of Historic Cities and Sacred Places

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

James D. Wolfensohn, President of the World Bank Group, discussed the importance of preserving culture, cities and architecture, and sacred sites. The international system has to be built on structure, on governance, on justice, on legal systems, on social systems, but it also has to be built on history and culture. You do not have to have a dollar sign on something for it to be valuable or for it to be essential. You cannot have an international financial architecture built on sand. He discussed the overwhelming issue of poverty, concentration of people in cities, the pressure on public services and public spaces, and the degradation that accompanies movements of people into cities.
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.