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WORLD BANK: Sluggish and jobless growth overshadows Tokyo summit: Page 2 of 2

Posted on 13 October 2012
Meanwhile, the WB chief continued, poor countries can “become the next generation of emerging markets” through building accountable institutions, having dynamic private sectors, and discovering new natural resources. He also mentioned the WB’s championing of natural capital accounting “to encourage countries to better understand and manage their natural assets.” Civil society has strongly criticized this strategy, saying that it paves the way to the commodification of ecosystems and privatization of the commons.
 
On the future of the WB, Kim discussed his idea of transforming the institution from being a “knowledge” bank to being a “solutions” bank. He highlighted initial actions to achieve this—such as establishing a measurable bottom line, strengthening implementation and results, improving ability to provide integrated solutions, and investing in data and analytic tools—and promised a progress report in six months.
 
Notably absent in the annual meetings is China. Speculations on China’s boycott of the Tokyo summit revolved around its row with Japan over disputed islands in East China Sea.
 
A program of seminars organized by the IMF-WB as well as various civil society forums, which run from October 10 to 13, preceded this plenary session. IBON International and Reality of Aid Asia Pacific, in cooperation with Japanese NGO Center for International Cooperation, hosted a forum on “Results and Sustainability: Rights-based Perspectives” last October 10. The annual meetings are expected to end on October 14. ###

 

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