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James D. Wolfensohn, President of the World Bank Group, discussed how accountants can best serve the public interest. Over the last 15 years, the Bank have seen freedom blossom and with it an expanded role for civil society. Today five billion people live in a market system - up from 1 billion a decade ago. Lack of institutional capacity, poor governance, and public sector management remain major impediments to growth and development. The Bank is holding anti-corruption seminars and workshops for parliamentarians and journalists; making sure that our own processes meet the highest standards of transparency and propriety; and pushing ahead with deregulation, institutional, and policy reform. The Bank can and is working to improve accounting and auditing capacity building, in Ghana, Zambia, China, Pakistan, and Indonesia among others.
Accountability --- Accounting --- Business --- Capacity Building --- Corruption --- Crime --- Deregulation --- Developing Countries --- Ethics --- Expenditures --- Financial Management --- Financial Stability --- Good Governance --- Governance --- International Governmental Organizations --- Leadership --- Loans --- Management --- Market Economy --- Microenterprises --- Money Laundering --- Penalties --- Poverty --- Private Sector --- Private Sector Development --- Public Sector --- Public Sector Development --- Quality Control --- Small Businesses --- Terrorism --- Transparency
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James D. Wolfensohn, President of the World Bank Group, discusses the relationship, which has been going on for years between the Bank and the International Labour Organization (ILO), has indeed been deepened and strengthened. The Bank has established some work programs, including joint studies on reform of vocational education and training systems, on the labor-market impact of export processing zones, and joint workshops for trade unionists on labor and development issues. Wolfensohn reviewed the differing role of the Bank compared to the ILO. The Bank is focusing direct and specific attention on poverty alleviation within a sustainable environment. He discussed other partners in development: other multilateral institutions, the private sector, civil society, and governments. The aims of the Bank and the ILO are linked to giving individuals a chance for freedom and economic opportunity with a sense of justice and fairness.
Corruption --- Crime --- Debt --- Economics --- Education --- Education For All --- Employment --- Equity --- Finance --- Human Rights --- Infrastructure --- Labor Policies --- Leadership --- Management --- Migration --- Partnerships --- Politics --- Poverty Reduction --- Private Sector --- Privatization --- Public Sector Development --- Risk --- Skills Development and Labor Force Training --- Social Protections and Labor --- Social Safety Nets
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James D. Wolfensohn, President of the World Bank, noted that the Bank endorsed the effort to bring about microcredit to 100 million families. Microcredit is a very important answer to poverty. Helping the world's poor has to be a partnership between people who are linked by various things including economic opportunity and trade. A far more real reason for committing to this goal is social justice. In the next 30 years we will be one world of the same sort of people. It is the strength and dignity of the people that we are working with. The human spirit is the same: a desire for a better life, a desire for opportunity, not a desire for charity, a desire to grow, a desire to feel something in oneself, a desire to create something in the family. Central to this is the role of women, and central in responsibility is the role of education of children, particularly girl children, because it is through them that all families, be they from rich countries or poor countries, emerge. Let us work together as partners in trying to reach the 100 million goal, and in trying to leave the world a more peaceful and safer place for children.
Charity --- Children --- Family --- Finance and Development --- Finance and Financial Sector Development --- Gender --- Race --- Social Cohesion --- Social Development --- Social Justice --- Women
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James D. Wolfensohn, President of the World Bank Group, stated unequivocal financial commitment to and belief in Africa's future. Africa is not without its problems. He noted that 200 million people live in poverty, earning under a dollar a day. The Bank is investing at the rate of nearly USD 3 billion a year on top of the USD 17 billion already put into the region. There has been a real change in the investment climate not only for international investors but also for domestic investors. It is in partnership with the private sector that Africa finds a profound opportunity to change the continent. We can help through the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) to provide assistance with financing and insurance against risk. The Bank is very keen to play part in assisting the flow of private sector funding. We see that Africa wants to succeed and is being led by people who want to lead their countries to success. Their optimism will be fulfilled only if there is a real partnership.
Business Environment --- Capacity Building --- Equity --- Finance --- Finance and Development --- Finance and Financial Sector Development --- Global Economy --- Infrastructure --- Insurance --- International Finance --- Investment Climate --- Leadership --- Macroeconomics and Economic Growth --- Poverty --- Private Sector Development --- Public Sector Development --- Risk --- Slums --- Technical Assistance --- Trust --- Universities
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James D. Wolfensohn, President of the World Bank, made points on topics that link banking to the developing world: scourge of acquired immune deficiency syndrome (AIDS), which has 16 million people suffering from that disease; crime; war; migration, because migration comes from countries that do not have economic opportunity; and trade. It is crucial that the bankers in the city, as the home of international banking and the largest center of international banking, recognize that there is something more than the profit motive. As far as development is concerned, it's no longer an issue of having government to government assistance. USD 230 billion of private capital went to the developing world, eclipsing the USD 50 billion of official aid. International institutions have to change. And private institutions have to change in thinking not just of themselves but of leveraging their activities and their interests to work in partnership with the governments.
Capital Markets and Capital Flows --- Children --- Countries --- Crime --- Developing Countries --- Development Economics & Aid Effectiveness --- Economic Development --- Family --- Finance --- Finance and Development --- Finance and Financial Sector Development --- Insurance --- International Finance --- Leadership --- Loans --- Macroeconomics and Economic Growth --- Microcredit --- Women
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Habitat II, the second United Nations conference on human settlements, also known as the "City Summit," concluded its work on June 14, 1996, in Istanbul. Habitat II indelibly marked the increasingly urban nature of the world and the urgency, extent, and increasing size of problems facing people in cities, especially the poor. The conference developed consensus around the need to achieve sustainable development in urban areas, with special emphasis on the provision of basic services and shelter for the poor. The summit underscored the role of partnerships. Mr. Wolfensohn noted that partnerships are one of the key thrusts of all the work at the World Bank. The Bank has a long history with the urban sector. Looking to the future, the Bank identified three key priorities for action to make cities livable today: bringing basic services to the poor; a healthier urban environment; and finance for people in cities. The Bank made important commitments at Istanbul to increase its support to urban development, particularly through people-centered approaches.
Cities --- City Development Strategies --- Communities --- Expenditures --- Habitat --- Health --- Infrastructure --- Sanitation --- Slums --- Urban Areas --- Urban Development --- Urban Economic Development --- Urban Housing --- Urban Poor --- Urban Services to the Poor --- Water
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