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Last week the Center for Global Development hosted a roundtable on “Program-for-Results” (P4R) – the World Bank’s proposed new lending instrument, which, as Bill Savedoff notes, marks a huge step for the Bank and potentially big changes to how it does business.
Recently my colleague Alan Gelb and I attended a consultation at the World Bank’s annual meeting of its proposed “Program-for-Results” (P4R) policy. This is a remarkable step for the World Bank – the first time in 30 years that it is proposing a significantly new lending instrument. For now, the Bank can disburse funds to clients for expenditures on inputs (investment loans) or when those clients have enacted policies (policy loans).
It is thrilling to watch the overthrow of despots and dynasties as people power erupts across the Arab world. But the headiness of the moment can only lead to durable political change and meaningful economic progress if the new governments that emerge find a better way to handle oil revenue and other easy money (rents, in econo-speak) that have corrupted the outgoing regimes.
A new year calls for a development policy wish list. My wish list is about what the rich and powerful global actors– mostly but not solely in the United States – can do to improve lives among the poor and vulnerable around the world in the coming year.
According to its website, the United Nations Educational, Scientific and Cultural Organization (UNESCO) has stopped accepting nominations for its UNESCO-Obiang Nguema Mbasogo International Prize for Research in the Life Sciences. But we are guessing that the applicant pool remains quite small. Frankly, who would want his or her name affiliated with one of Africa’s worst dictators? Besides UNESCO, that is.
This time it is different. The G-8's statement on African development is focused largely on an often-neglected area--the private sector.
Previous G-8 statements have focused mostly on aid to Africa and have immediately generated a large volume of commentary on whether or not funding levels from rich countries are adequate, reflect prior commitments, etc.