World Bank Urges International Community To Do More To Fight Poverty
The World Bank has urged the international community to make greater strides in resolving conflicts, preventing diseases and strengthening governance in efforts to fight global poverty.
World Bank President Paul Wolfowitz said though 400 million people worldwide had escaped poverty in the past 25 years -- making it the most successful quarter-century in the history of fight against poverty -- much more was needed to bring hope to many millions more, particularly those in Africa.
The challenge, he said, was to give the world's poorest citizens control of their own destinies by removing the barriers to a better life, from "bureaucratic red tape to potholed roads and protected markets".
"Each country must find its own path, but across cultures and faiths, communities and nations, people will pursue the same dreams: the chance to go to school, the security of a good job, the ability to provide a better future for their children," he said at the annual meetings of the World Bank and the International Monetary Fund (IMF) here today.
He stressed Africa remains the bank's top priorities given the persistent growth in the number of people living in poverty in the continent.
He also urged the international community to honour its promises of greater support for Africa to help the fight against diseases such as HIV/AIDS and Malaria.
Progress on those challenges would hinge on the international community making good its pledges of increased support to Africa, he said.
Wolfowitz however said though Africa was the first priority, it cannot be the bank's only priority.
"Today, two-thirds of the world's poor live in middle-income countries in Asia, Latin America and the Middle East. The number of people living in extreme poverty in Brazil, China and India put together is almost twice the number in sub-Saharan Africa," he said.
He stressed the importance of good governance in the fight against poverty and pave the way to prosperity. "Without it, all other reforms will have limited impact," he said.
A strong private sector was also important, he said, citing East Asia's experience which has demonstrated that no matter where countries were on the path out of poverty, it was the energy and talent of the private sector that creates jobs and drives progress.
