Publication:
Annual Address to the Board of Governors, September 25, 1967

Loading...
Thumbnail Image
Files in English
English PDF (341.22 KB)
174 downloads
English Text (29.75 KB)
27 downloads
Date
1967-09-25
ISSN
Published
1967-09-25
Editor(s)
Abstract
George D. Woods, President of the World Bank Group, spoke about the following: the record of the World Bank Group's activities of the past fiscal year; finance for the International Development Association (IDA); education, teaching new skills, and cultivating new attitudes toward social and economic change; exports of the less developed countries; and the effectiveness of development finance.
Link to Data Set
Citation
Woods, George D.. 1967. Annual Address to the Board of Governors, September 25, 1967. © World Bank. http://hdl.handle.net/10986/33127 License: CC BY 3.0 IGO.
Associated URLs
Associated content
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue

Related items

Showing items related by metadata.

  • Publication
    Annual Address to the Board of Governors, September 27, 1965
    (World Bank, Washington, DC, 1965-09-27) Woods, George D.
    George D. Woods, President of the World Bank and its affiliates, spoke about raising living standards; the World Bank Group funds to financing development; efforts to encourage private international investment, and two special projects, namely, amendment of the Bank and International Finance Corporation (IFC) charters and convention on the settlement of investment disputes; and two initiatives of the Bank, namely, a study, organized jointly by the International Coffee Organization, Food and Agriculture Organization (FAO), and the Bank, and proposal put forward by the United Kingdom and Swedish delegations at the 1964 United Nations conference on trade and development.
  • Publication
    Address to the Board of Governors, September 25, 1972
    (World Bank, Washington, DC, 1972-09-25) McNamara, Robert S.
    Robert S. McNamara, President of the World Bank, reported on the Bank’s operations in fiscal year 1972 and reviewed the progress of the Five-Year Program for 1969–73. He assessed the current state of development in member countries and outlined the program for the five years 1974–78. He explored the central issue of the relationship of social equity to economic growth. Given the shortfall in official development assistance, the debt problem, and the procrastination of the developed countries in dismantling discriminatory trade barriers, the Second Development Decade’s 6 percent growth target is not going to be met by many nations. The most persistent poverty is that of the low-income strata, roughly the poorest 40 percent of the total population in all development countries—who are trapped in conditions of deprivation. He argues that an urgent task is to reorient development policies to directly attack the poverty of the most deprived 40 percent of the population. Governments must achieve this without abandoning their goals of overall economic growth. Greater priority is needed to establish growth targets in terms of essential humans needs: nutrition, housing, health, literacy and employment, even at the cost of some reduction in the pace of advance in certain narrow and highly privileged sectors whose benefits accrue to the few.
  • Publication
    Annual Address to the Board of Governors, September 7, 1964
    (World Bank, Washington, DC, 1964-09-07) Woods, George D.
    George D. Woods, President of the World Bank and its affiliates, spoke about Japan as a vibrant example of both reconstruction and development. He briefly reported on developments in the World Bank Group of institutions during the past year, including partnership agreements with the U.N. Food and Agriculture Organization and UNESCO. He indicated some of the principal preoccupations in the period ahead, such as a scarcity of good projects to support, large debt service burdens, and the next IDA replenishment. Finally, he concluded by saying a few words about developments in the world environment in which the Bank group operates and about the possible effect of those developments upon the role of the organizations.
  • Publication
    Annual Address to the Board of Governors, September 26, 1966
    (World Bank, Washington, DC, 1966-09-26) Woods, George D.
    George D. Woods, President of the World Bank Group, points out the activities well established by the Bank in its 20th year. He discusses: 1) International Development Association financing of education and agriculture, which includes among other things fertilizer components and plants, highways, irrigation, and credit for small agriculturists; 2) two projects aimed at increasing the willingness of the private entrepreneur and investor to venture abroad; 3) problems that confront economic developments; and 4) some specific achievements.
  • Publication
    Annual Address to the Board of Directors, September 30, 1963
    (World Bank, Washington, DC, 1963-09-30) Woods, George D.
    George D. Woods, President of the World Bank Group, discussed the following: the willingness of the capital-exporting countries to continue and increase their annual contributions in support of the International Development Association (IDA); the operations of the International Finance Corporation (IFC); and the growing activity of the Bank Group, under the leadership of IFC, in the establishment and support of local private industrial finance companies. He addressed three problems that put a brake on economic progress: the commodity problem, the debt problem, and the policy problem. He sought expansion of Bank support to agriculture, industry, and education.

Users also downloaded

Showing related downloaded files

  • Publication
    Increasing Female Labor Force Participation
    (World Bank, Washington, DC, 2023-01) Halim, Daniel; O’Sullivan, Michael B.; Sahay, Abhilasha
    Gender gaps in labor force participation persist worldwide. Closing this gap can lead to sizeable gains for economies—a 20 percent increase in GDP per capita, on average. Female labor force participation (FLFP) remains low due to lack of skills, assets and networks, time-based constraints, limited mobility, gender discrimination in hiring and promotion, and restrictive gender norms. Effective evidence-backed policy options can increase FLFP. They include providing childcare services, disseminating information on work opportunities and returns to employment, training in socio-emotional skills, addressing norms by engaging partners and family members, and targeting women via social protection, safety net, and public-works programs. The World Bank Group actively supports countries in boosting FLFP through development policy lending, advisory and analytical work, and supporting reforms to address constraining contextual factors, including legal barriers, social norms, and gender-based violence. This note sheds light on an array of policy options that are effective or show promise in improving FLFP.
  • Publication
    Africa’s Resource Future
    (Washington DC : World Bank, 2023-04-03) Cust, James; Zeufack, Albert G.
    This book examines the role for natural resource wealth in driving Africa’s economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the ground. Subsoil assets—such as metals, minerals, oil, and gas—are key sources of government revenues, export earnings, and development potential in most countries in the Africa region. Despite large reserves, success in converting subsoil wealth into aboveground sustainable prosperity has been limited. Since the decline in commodity prices in 2014, resource-rich Africa has grown more slowly than the region’s average growth rate. Finding ways to more effectively harness natural resource wealth to drive economic transformation will be central to Africa’s economic future. As the world moves away from fossil fuels in alignment with commitments under the Paris Agreement, Africa’s resource-rich countries face new risks and opportunities. Recent estimates suggest that 80 percent of the world’s proven fossil fuel reserves must remain underground to meet the Paris targets, and much of these stranded reserves may be in Africa. This issue of stranded assets and, relatedly, “stranded nations,” has major implications for the many African economies that are dependent on petroleum extraction and export. On the other hand, the energy transition will increase demand for raw material inputs involved in clean energy technologies. The transition from fossil fuels to clean energy may create demand by 2050 for 3 billion tons of minerals and metals that are needed to deploy solar, wind, and geothermal energy. How can African economies tap into these opportunities while managing the downside risk to their fossil fuel wealth? "Africa’s Resource Future" explores these themes and offers policy makers insights to help them navigate the coming years of uncertainty.
  • Publication
    Social Cohesion and Forced Displacement
    (Washington, DC: World Bank, 2022) World Bank
    This report presents new evidence from 26 background studies on forced displacement and social cohesion to expand the current knowledge base on how to prevent social conflict and promote social cohesion in forced displacement contexts. The background studies are geographically and methodologically diverse. They examine social cohesion in a variety of low-, middle-, and high-income countries across Africa, Asia, Central, and South America, and Europe. Building on this new evidence, the report provides lessons on how development investments and policies can reduce inequalities, alleviate social tensions, and promote social cohesion between and within displaced populations and host communities. Overall, the findings demonstrate that, while displacement can exacerbate existing inequalities and create new inequalities and the potential for conflict, especially in areas with strained services and limited economic opportunities, inclusive policies and development investments can effectively mitigate the negative effects of displacement and promote social cohesion.
  • Publication
    Poverty, Prosperity, and Planet Report 2024
    (Washington, DC: World Bank, 2024-10-15) World Bank
    The Poverty, Prosperity, and Planet Report 2024 is the latest edition of the series formerly known as Poverty and Shared Prosperity. The report emphasizes that reducing poverty and increasing shared prosperity must be achieved in ways that do not come at unacceptably high costs to the environment. The current “polycrisis”—where the multiple crises of slow economic growth, increased fragility, climate risks, and heightened uncertainty have come together at the same time—makes national development strategies and international cooperation difficult. Offering the first post-Coronavirus (COVID)-19 pandemic assessment of global progress on this interlinked agenda, the report finds that global poverty reduction has resumed but at a pace slower than before the COVID-19 crisis. Nearly 700 million people worldwide live in extreme poverty with less than US$2.15 per person per day. Progress has essentially plateaued amid lower economic growth and the impacts of COVID-19 and other crises. Today, extreme poverty is concentrated mostly in Sub-Saharan Africa and fragile settings. At a higher standard more typical of upper-middle-income countries—US$6.85 per person per day—almost one-half of the world is living in poverty. The report also provides evidence that the number of countries that have high levels of income inequality has declined considerably during the past two decades, but the pace of improvements in shared prosperity has slowed, and that inequality remains high in Latin America and the Caribbean and Sub-Saharan Africa. Worldwide, people’s incomes today would need to increase fivefold on average to reach a minimum prosperity threshold of US$25 per person per day. Where there has been progress in poverty reduction and shared prosperity, there is evidence of an increasing ability of countries to manage natural hazards, but climate risks are significantly higher in the poorest settings. Nearly one in five people globally is at risk of experiencing welfare losses due to an extreme weather event from which they will struggle to recover. The interconnected issues of climate change and poverty call for a united and inclusive effort from the global community. Development cooperation stakeholders—from governments, nongovernmental organizations, and the private sector to communities and citizens acting locally in every corner of the globe—hold pivotal roles in promoting fair and sustainable transitions. By emphasizing strategies that yield multiple benefits and diligently monitoring and addressing trade-offs, we can strive toward a future that is prosperous, equitable, and resilient.
  • Publication
    World Development Report 1994
    (New York: Oxford University Press, 1994) World Bank
    World Development Report 1994, the seventeenth in this annual series, examines the link between infrastructure and development and explores ways in which developing countries can improve both the provision and the quality of infrastructure services. In recent decades, developing countries have made substantial investments in infrastructure, achieving dramatic gains for households and producers by expanding their access to services such as safe water, sanitation, electric power, telecommunications, and transport. Even more infrastructure investment and expansion are needed in order to extend the reach of services - especially to people living in rural areas and to the poor. But as this report shows, the quantity of investment cannot be the exclusive focus of policy. Improving the quality of infrastructure service also is vital. Both quantity and quality improvements are essential to modernize and diversify production, help countries compete internationally, and accommodate rapid urbanization. The report identifies the basic cause of poor past performance as inadequate institutional incentives for improving the provision of infrastructure. To promote more efficient and responsive service delivery, incentives need to be changed through commercial management, competition, and user involvement. Several trends are helping to improve the performance of infrastructure. First, innovation in technology and in the regulatory management of markets makes more diversity possible in the supply of services. Second, an evaluation of the role of government is leading to a shift from direct government provision of services to increasing private sector provision and recent experience in many countries with public-private partnerships is highlighting new ways to increase efficiency and expand services. Third, increased concern about social and environmental sustainability has heightened public interest in infrastructure design and performance. This report includes the World Development Indicators, which offer selected social and economic statistics for 132 countries.