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Bob Zoellick's Newest Blueprint for the World Bank

Restoring legitimacy and confidence?

In the run-up to the Spring Meetings end of this week, Bob Zoellick, the President of the World Bank, outlined last week, during a major policy speech at the Center for Global Development four strategic areas where he sees a need for immediate World Bank action. These are the global food policy, the Doha Trade Deal, the Extractive Industries Transparency Initiative, and Sovereign Wealth Funds (SWF) investment in Africa. Liane Schalatek reports from Washington.

 

In the speech (>>> full text) Zoellick clearly envisions for the World Bank to become more risk-seeking (thus with the permission to fail) and with more of a venture fund (Wall Street) mentality. He made it quite obvious that within the Word Bank group the IFC, the private sector arm, would be the taking more of the initiative and lead and that the World Bank group would need to seek out to create new financing mechanisms, such as equity funds, and offer services in fund management or index fund creation not only to countries, but also to corporate investors. ...

... this article is published in
Issue 2/Mar-Apr 2008 for subscribers only. For direct log in >>> click here. If you have no subscription >>> pick your option or >>> buy the article.

Posted: 8 Apr 2008









Spreading the Benefits of Globalisation / Are We Approaching a Global Food Crisis?

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