World Bank chief seeks refocus (Financial Times)

[Eugene]

Source: Financial Times

World Bank chief seeks refocus

By Krishna Guha in Washington

Published: April 6 2007 22:06 | Last updated: April 7 2007 00:06

The World Bank is carrying out a review that will lead to the aid agency cutting
back or even abandoning some activities to focus resources where they can be
most effective, Paul Wolfowitz told the Financial Times.

The World Bank president said he had charged François Bour-guignon, its chief
economist, with drawing up the new strategy for the world’s biggest multilateral
aid agency. While Mr Wolfowitz refuses to prejudge the review, many bank officials
think it is engaged in too wide a range of social sector projects and want it focus
more on promoting economic growth.

Mr Wolfowitz said the review team would consult widely but would not shy away
from tough choices.

The review will be welcomed by the bank’s shareholder governments, which have
pressed Mr Wolfowitz to provide more clarity and detail on his plans for the aid
agency. But it will unleash a storm of lobbying from non-governmental organisations
anxious that the bank should continue to support their own favoured areas of
operation.

-snip-

Read more: http://www.ft.com/cms/s/d7697e26-e471-11db-bf06-000b5df10621.html

[Demeter]

1. Retire, Wolfie! That Will REALLY Change the Focus! nt