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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.

Accountability --- Accounting --- Bankruptcy --- Capacity Building --- Contracts --- Corruption --- Crime --- Debt --- Decentralization --- Developing Countries --- Equity --- Equity and Development --- Finance --- Financial Crisis --- Globalization --- Good Governance --- Governance --- Human Rights --- Infant Mortality --- Insurance --- International Governmental Organizations --- Leadership --- Legal Reform --- Legal System --- Macroeconomics and Economic Growth --- Market Economy --- Microcredit --- Monetary Policy --- Nongovernmental Organizations --- Participations and Civic Engagement --- Poverty --- Poverty Reduction --- Primary Education --- Privatization --- Property Rights --- Social Development --- Trade Unions --- Transparency --- Violence --- Youth

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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.

Accounting --- Bankruptcy --- Bribery --- Capital Flows --- Capital Markets --- Clean Water --- Competition --- Corporate Governance --- Corruption --- Countries --- Debt --- Developing Countries --- Economic Costs --- Education --- Education For All --- Employment --- Environment --- Exchange Rates --- Expenditures --- Finance --- Financial Crisis --- Financial Institutions --- Financial Management --- Financial Sector --- Food Production --- Gender --- Global Economy --- Globalization --- Good Governance --- Insurance --- Law and Development --- Law and Justice Institutions --- Loans --- Management --- Market Economy --- Monetary Policy --- Poverty --- Public Sector Development --- Savings --- Social Development --- Social Safety Nets --- Stock Exchanges --- Transparency --- Unemployment

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James D. Wolfensohn, President of the World Bank Group, addressed the annual meetings of the World Bank and the International Monetary Fund. He discussed the context in which the Bank operates today; the role of the Bank in development now, and in the coming years; what the Bank can do to achieve its objectives in an effective and accountable manner; and the Bank's immediate and early initiatives. He called for a new IDA compact. The problem of debt overhang continues. He focused on the power of partnerships. He mentioned the need to develop an institutional culture focused on excellence and results.

Accountability --- Accounting --- Best Practices --- Capital Flows --- Corruption --- Credit --- Crime --- Debt --- Debt Markets --- Developing Countries --- Development Economics & Aid Effectiveness --- Economic Development --- Environment --- Equity --- Finance --- Finance and Development --- Finance and Financial Sector Development --- Gross Domestic Product --- Human Resources --- Human Rights --- Income Distribution --- Infrastructure --- International Finance --- Land --- Leadership --- Legal System --- Loans --- Macroeconomics and Economic Growth --- Partnerships --- Population Growth --- Poverty --- Private Investment --- Privatization --- Productivity --- Property Rights --- Public Investment --- Risk --- Small Businesses --- Social Accountability --- Social Development --- Telecommunications --- Trade --- Transport --- Trust

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James D. Wolfensohn, President of the World Bank Group, discusses the great challenges faced by India on the issue of AIDS. He urged greater education of students about the dangers of the disease and to deal with the issues of prevention. For those that have been taken by the disease, deal in an open and equitable way with the sufferers who are getting treatment. He also said that graduates also will convey the messages when they become teachers, when they train teachers, when they pass the message down to high schools and primary schools and when they interface with their communities.

Adolescent Health --- Aids --- Death --- Education --- Health, Nutrition and Population --- Leadership --- Primary Education --- Reproductive Health --- Schools --- Secondary Education --- Teachers --- Treatment --- Universities --- Youth

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James D. Wolfensohn, President of the World Bank Group discussed the financial crisis in Asia which began with the emergence of the Thailand crisis. The history of Asian economic and social development has been one of enormous achievement. Since 1975 the number of people living in poverty has been reduced from 700 million to 340 million (roughly 20 percent of the population)" no small achievement. Generally, the region has had strong economic growth. Life expectancy has gone up significantly, while infant mortality has gone down significantly. Primary school enrollment approaches 100 percent. Fiscal management has been remarkable. What changed? We have a crisis now caused by private sector excesses, and to a degree government inaction in the area of supervision. The Bank is focusing on two things: reformation of the financial system, in terms of trying to get the regulation and control that is now being demanded by the Asian authorities themselves; and the impact on the people. Wolfensohn fielded a number of questions from the audience.

Accounting --- Bankruptcy --- Bonds --- Capacity Building --- Capital --- Capital Markets --- Contracts --- Corruption --- Credit --- Debt --- Debt Markets --- Developing Countries --- Distance Learning --- Employment --- Equity --- Ethnic Minorities --- Expenditures --- Family --- Federal Reserve --- Finance --- Finance and Financial Sector Development --- Financial Crisis --- Financial Institutions --- Financial Regulation & Supervision --- Foreign Banks --- Governance --- Government Banks --- Human Rights --- Infrastructure --- Insurance --- Interest Rates --- Loans --- Market Economy --- Poverty --- Public Sector Development --- Recession --- Savings --- Savings Rate --- Social Development --- Trade Unions --- Transparency --- Unions --- Villages