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World Bank Group announces reforms to meet goals
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World Bank Group announces reforms to meet goals

Oct 11 2013, 4:22pm CDT | by IANS

Washington, Oct 12 (IANS) World Bank Group (WBG) Friday revealed a set of reforms to make its staff, finances and priorities better serve the twin goals of the institution -- ending extreme poverty by 2030 and boosting shared prosperity for the bottom 40 percent of the population in developing countries.

Washington, Oct 12 — World Bank Group (WBG) Friday revealed a set of reforms to make its staff, finances and priorities better serve the twin goals of the institution -- ending extreme poverty by...

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49 weeks ago

World Bank Group announces reforms to meet goals

Oct 11 2013, 4:22pm CDT | by IANS

Washington, Oct 12 (IANS) World Bank Group (WBG) Friday revealed a set of reforms to make its staff, finances and priorities better serve the twin goals of the institution -- ending extreme poverty by 2030 and boosting shared prosperity for the bottom 40 percent of the population in developing countries.

Washington, Oct 12 — World Bank Group (WBG) Friday revealed a set of reforms to make its staff, finances and priorities better serve the twin goals of the institution -- ending extreme poverty by 2030 and boosting shared prosperity for the bottom 40 percent of the population in developing countries.

Addressing the plenary session of the annual meetings of the International Monetary Fund (IMF) and the WBG, which started here Friday, attended by representatives of WBG' 188 member countries, WBG President Jim Yong Kim said that the organisation had avoided tough choices for too long, Xinhua reported.

"That's changing. We are taking our own medicine. Just as we tell finance ministers, we also need to plan for the longer term, shore up our revenue base, seeking ways to save, and building a stronger foundation for years to come," said Kim.

He said over the next three years, the WBG will seek to reduce at least $400 million in administrative costs, and these savings will directly benefit its clients, as the organisation will work to reinvest these resources toward new financing.

Kim also said WBG needs to reform the way it designs its budget, to align budgets with its priorities, to invest selectively in the future, and to aggressively explore new ways to grow revenue to better serve its clients.

"We can't revert to business as usual," he said. "When I started my tenure at the World Bank Group some 16 months ago, I discovered a staff with a tremendous depth of knowledge and experience. I also found a staff frustrated with the institution."

"Many wanted their work to have greater impact. They chafed at a bureaucracy that had turned our six regional units into silos, with each one reluctant to share its technical expertise with the others," he added.

IANS

Source: IANS

 
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5

3 days ago

France to receive first Ebola patient

Sep 17 2014 4:52pm CDT | Source: Business Insider

Paris (AFP) - France on Wednesday prepared to receive its first Ebola patient, as the World Bank warned the spiralling epidemic is threatening economic catastrophe in west Africa.Doctors Without Borders, known by its French acronym MSF, said a female volunteer had contracted the killer virus while on assignment in Liberia.France's health ministry said she "will be repatriated to France in conditions of maximum security in a dedicated air ambulance," without ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
4

3 days ago

World Bank: Economic Impact Of Ebola Outbreak Could Be 'Catastrophic'

Sep 17 2014 9:59am CDT | Source: Business Insider

The World Bank released a statement Wednesday warning that the economic impact of the Ebola outbreak in West Africa was "already serious" and could be "catastrophic" if the international community does not take serious action soon. This Ebola outbreak is unprecendented in scope, and worsening with alarming speed. There have been 2,453 deaths counted so far, and 4,963 confirmed, probable, and suspected cases — almost half of which hav ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
3

4 days ago

Obama: Ebola crisis 'spiraling out of control'

Sep 16 2014 4:56pm CDT | Source: Business Insider

Atlanta (AFP) - President Barack Obama issued a global call to action to fight West Africa's Ebola epidemic on Tuesday, warning the deadly outbreak was unprecedented and "spiraling out of control," threatening hundreds of thousands of people.Speaking as he unveiled a major new US initiative which will see 3,000 US military personnel deployed to West Africa to combat the growing health crisis, Obama said the outbreak was spreading "exponentially." ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
2

6 weeks ago

World Bank pledges $200 million to fight Ebola

Aug 4 2014 7:53pm CDT | Source: Business Standard

The World Bank has said that it would provide up to USD 200 million to Guinea, Liberia and Sierra Leone to help the West African nations contain a deadly Ebola outbreak. World Bank president Jim Yong Kim, himself an expert on infectious disea ...
Source: Business Standard   Full article at: Business Standard
 

 

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