World Bank chief calls for equal partnership in new world system
Regional-International, Economics, 2/17/2000

The president of the World Bank, James D. Wolfensohn, pleaded Wednesday for equal partnership in the new world system.

The world will forge a new order over the next 25 years without inequity and imbalance of opportunities and growth between rich and poor countries, which are seen presently, if an equal partnership system with the participation of all groups and sectors is successfully created, based on the basis of transparent and corruption-free structure and governments, Wolfenson said in a speech at the 10th Session of the United Nations Conference on Trade and Development (UNCTAD X).

Sustainable world growth, and lasting peace and stability could not be really achieved if the gap between developed and developing countries was not eliminated.

He noted that out of the total world population of about 6.0 billion, there were now only 1.2 billion living in developed countries, while the rest were in developing and least developed countries (LDCs), with about 97 million earning only a U.S. dollar per day.

The world's population could grow to about 8.0 billion over the next 25 years, meaning that the number of the poor in developing and least developed countries could also massively increase, he cautioned.

Measures to address the problems should be speedily implemented through the cooperation of the World Bank, the UNCTAD and other international institutions, he suggested, saying participation of all groups and parties concerned, including the public and private sectors and even the grass roots was also needed.

The equal partnership concept could not be successfully achieved if it was not supported by a good social and administrative structure with transparent and corruption-free governments, the World Bank chief said.

He also suggested that countries should also take the world's third revolution, the development of the industrialization to the digital age, into account, when trying to forge for the new world system so that the efficient elimination of inequity should be maintained.

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