World Bank to redouble efforts to fight poverty
GOVERNMENT| Oct. 14, 2012, 9:01 a.m.
The World Bank Group Development Committee has wrapped up its annual plenary meetings in Tokyo with a resolve to transform the bank into a ‘solutions bank’ that helps eradicate poverty and boost prosperity.
World Bank Group President Jim Yong Kim called on members to redouble efforts to end absolute poverty.
"We still live in a world that has more than one billion people living in absolute poverty," Dr. Kim said at the closing press conference. "We must all work to make sure that the impressive gains in Latin America, Africa, and Asia over the past generation are not lost now."
“It is time to bend the arc of history. With global solidarity underpinned by a relentless drive for results, we can, we must, and we will build shared prosperity and end poverty,” Dr. Kim said.
Addressing the full membership of the World Bank for the first time as president, Dr. Kim said the Bank will establish a “clear and measurable bottom line” including “ambitious targets” for ending poverty and building shared prosperity, streamlined procedures and processes, and incentives for people working for or on behalf of the Bank who can bring results on the ground.
The plan includes strengthening evidence-based approaches to development by ensuring “virtually all developing countries have timely and accurate data,” said Dr. Kim.
In its communique, the committee called on the Bank to work with other organizations to accelerate efforts to help the African Sahel, where “hunger threatens the lives of 19 million people and the stability of the region.” The response should bring solutions that enable the region to “permanently escape the cycle of emergency aid, and reach a more resilient and sustainable future in the medium term.”
Donors meeting on the sidelines of the annual meetings made pledges to the Global Agriculture and Food Security Program, launched by the World Bank in 2008 at the request of the G20. The United States pledged to contribute an additional USD1 to the fund for every USD2 contributed by other donors (up to a total US contribution of USD475 million), attracting USD30 million contributions each from Japan and the Republic of Korea, with the Bill & Melinda Gates Foundation also indicating it would double its commitment.
The committee noted that World Bank Group must also continue to help countries strengthen conditions for job growth, and asked the World Bank to “contribute actively” to the process of setting global development targets that would take effect after the Millennium Development Goals sunset in 2015. “
MORE GOVERNMENT NEWS
NCC chief urges Fed Govt to relax forex policyThe Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has urged the Federal Government to consider relaxing its forex policy for telecommunications companies. Read More
No deal with MTN on fine, says ComTech ministerNigeria’s Communications Technology Minister says no concrete deal has been sealed in respect of the fine imposed on MTN. Read More
CA rejects misleading reports on Essar saleThe Chairman of the Communications Authority of Kenya board of directors, Ngene Gituku, has refuted allegations of impropriety and unethical conduct around the sale of Essar Telecom Kenya Ltd. Read More
Smart Africa seeks One Africa NetworkICT Ministers and telecoms regulatory bodies meeting in Kigali have resolved to implement the new One Africa regional telecommunications framework initiative this year. Read More
Kenyan mobile operators fail on QoS targetsThe Communications Authority of Kenya says Kenya’s mobile operators have failed to meet Quality of Service standards for the third year running. Read More
Glo Ghana sanctioned for call setup time delaysThe Ghana NCA says it has sanctioned Ghana’s sixth network operator, Glo, for failing in its Call Setup Time obligation within the Greater Accra region. Read More
Facebook post costs Kenyan $50000A social media user in Kenya has been fined Kshs 5million for allegedly defaming a member of parliament on social media; in a ruling that will set a precedent on any future internet cases in Kenya. Read More
BTCL lists on local bourseA journey that began close to a decade ago has culminated in the first successful privatisation of a Botswana state entity – BTCL. Read More
Huawei appointed lead ICT consultant for UgandaHuawei has been appointed as a lead ICT consultant in Uganda, and has named ten Ugandans to benefit from its Seeds for the Future development programme. Read More
FEATURED STORYCriticism over Remita borne out of ignorance, says SystemSpecs
The CEO of SystemSpecs, the company behind the revenue-saving Nigerian Single Treasury Account (TSA) system, speaks to Biztechafrica.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSKeeping up with the mobile banking evolution
Africa especially has witnessed the trend of mobile banking, due to the well-known fact that today more people on the continent have access to a mobile phone ...