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Friday, May 20, 2005

Changes At The World Bank

This is bound to do more than just raise some eyebrows:

The World Bank should focus on promoting economic growth rather than social policies as the route to reducing poverty, the bank's internal watchdog said.

And just two weeks before Paul Wolfowitz takes over as president.

"The hard-hitting report by the bank's Operations Evaluation Department, an independent unit that analyses the bank's lending, criticises the emphasis placed on education and health spending under James Wolfensohn's leadership.....The report calls on the bank to re-focus its efforts on infrastructure projects and urban and rural development. It said the record showed the private sector has not provided adequate financing for infrastructure projects."

Hard to say what I think without more information about what this will actually mean in practice.

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