Bank leaders unite on development

Harare – The leaders of the world’s top multilateral development banks have pledged closer collaboration to support development.
They have emphasised the need for co-ordinated efforts to achieve the Millennium Development Goals by 2015, which aim to end poverty and hunger, increase access to education and health care, improve gender equality, and ensure environmental sustainability.
Said Donald Kaberuka, president of the African Development Bank: “Nothing could be more important than ensuring young people get the right start in life.
“We aim to make 2015 the year in which children no longer negotiate access to basic education, mothers to the most basic health care, households to water and sanitation, or girls to the most fundamental opportunities for schooling, work, or voice in their communities. And we aim to ensure these gains are permanently sustained in the post-2015 era.”
According to Jim Yong Kim, president of the World Bank Group, collaboration between the financiers themselves is critical if meaningful support development is to be achieved.
“We are at a critical time where, working together, we can bend the arc of history – eliminating absolute poverty, boosting shared prosperity, and defining a pattern of growth that demonstrates that we care for our planet and all its people.”
Luis Alberto Moreno, who heads the Inter-American Development Bank added, “In these tough economic times, we’ll only reach our goals by pulling together.
“We will work with a wide variety of partners to reach our goals, thoughtfully and creatively. Civil society, business and government need to think and work together. Our Banks aim to create an atmosphere for open dialogue and imaginative solutions to emerge.”
Issues of inclusive growth, environmental sustainability, and long-term financing are global in nature. These affect rich and poor countries alike.
Min Zhu, the deputy MD at the IMF, said there was need to increase the distribution of financial resources.
“The very large gaps in development finance mean we’ll need to search for ever better ways to encourage investment. Recent economic crises, which have put so many people at a risk of falling into poverty, mean we need to do more to promote macroeconomic stability, and to build strong and transparent financial systems.”
Suma Chakrabarti, president of the European Bank for Reconstruction and Development, said the issue was not only one of financial resources, but skills capacity as well.
“The development challenges we face at the global and national levels are of such scale that we must work together. It’s not only a question of financial resources, but of ensuring we can deliver the best available knowledge, best people, and best models of co-operation to our clients.”


March 2013
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