World Bank president Robert Zoellick said Wednesday that globalisation must be "inclusive and sustainable" if it is to help combat grinding poverty around the world. In a speech at the National Press Club, marking his first 100 days in office, Zoellick said the World Bank should seek to foster such goals while guarding environmental protections.
"It is the vision of the World Bank Group to contribute to an inclusive and sustainable globalisation ... to overcome poverty, enhance growth with care for the environment, and create individual opportunity and hope," Zoellick, a former high-ranking US diplomat and trade negotiator, said.
The World Bank chief, who took over the helm of the Washington-based institution from Paul Wolfowitz who was ousted in a benefit scandal related to his partner, said globalisation offers "incredible" opportunities, but said it also faces tough challenges. "Exclusion, grinding poverty, and environmental damage create dangers. The ones that suffer most are those who have the least to start with ... indigenous peoples, women in developing countries, the rural poor, Africans, and their children," Zoellick said.
Zoellick said the World Bank needs to shake up its ideas on policy, markets and new possibilities. The World Bank chief laid out six strategic themes in mapping out his early vision for the multilateral lender. His themes include combating poverty, addressing the challenges of states emerging from conflict, fostering "development solutions" for middle-income countries, becoming more involved in issues such as HIV/AIDS, malaria and trade, supporting development across the Arab world, and improving the bank's capabilities to tackle such aims. Zoellick laid out his strategic ideas ahead of the autumn meetings of the World Bank and the International Monetary Fund which are due to occur October 20-22.