World Bank Meeting

Thomas Silberhorn calls for systematic implementation of World Bank reform course

Parliamentary State Secretary Thomas Silberhorn

10.04.2014 |

Berlin – On the occasion of the World Bank Spring Meeting, which is starting tomorrow, Thomas Silberhorn, Parliamentary State Secretary to the Federal Minister for Economic Co­op­er­a­tion and De­vel­op­ment, is calling on the Bank to systematically continue the reform course on which it has embarked.

"What is decisive is that the World Bank continues along the path to a socially and environmentally sound world economy," Silberhorn said. "Our global economic system is increasingly reaching its social and environmental limits. The divide between rich and poor has been growing rapidly in many coun­tries. Globalisation therefore needs to be given direction in such a way that it will benefit the people and respect the limits of our natural en­vi­ron­ment. The future of the World Bank is closely intertwined with this question."

In order to uphold its role as a leading de­vel­op­ment institution, the Bank has adopted two major goals under its President Jim Yong Kim. For one thing, extreme pov­er­ty is to be reduced to 3 per cent worldwide by 2030. Secondly, the Bank wants to limit social inequality, which has been growing. These are ambitious targets, as, according to the Bank's own calculations, the level of extreme pov­er­ty to be expected by 2030 will be as high as 8 per cent if coun­tries – especially industrialised coun­tries and emerging economies – continue with business as usual. So there is a need for far-reaching economic, environmental and social change. Germany, too, is advocating and working for such change. This is mainly about climate action, a clean en­vi­ron­ment, freedom from conflict and violence, but also a stable global financial architecture and a fair world trading system.

Germany is also calling for the World Bank Group to step up its activities in ag­ri­cul­ture and food security. Strengthening rural areas in de­vel­op­ing coun­tries and fostering sus­tain­able growth in the ag­ri­cul­tur­al sector are decisive steps towards pov­er­ty reduction.

The World Bank is the most im­por­tant financier of de­vel­op­ment co­op­er­a­tion projects. Its primary task is to reduce global pov­er­ty and contribute to economic de­vel­op­ment and business de­vel­op­ment in de­vel­op­ing coun­tries and emerging economies. In its 2013 fiscal year, it made available 52.6 billion US dollars for projects in de­vel­op­ing coun­tries. Germany is one of the Bank's top eight shareholders.

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