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November 1, 2007
HIGHLIGHTS FULL CONTENTS 
 World Bank-IMF Annual Meetings
President Zoellick presented six themes to guide the Bank's development work: achieving the Millennium Development Goals, post-conflict states, a more differentiated business model for the middle income countries, fostering regional and global public goods that transcend national boundaries, supporting those seeking to advance development and opportunities in the Arab World, and taking advantage of the Bank's “brain trust” of applied experience to help address the five other strategic themes.
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Bank Pledges US$3.5 Billion for Poorest Countries
The Bank will seek to contribute a record US$3.5 billion from its income to provide grants and credits for the world’s poorest countries through the 15th replenishment of the International Development Association (IDA). This pledge is more than double the US$1.5 billion pledged by the Bank to IDA 14 in 2005. For the first time, the amount pledged to IDA is also being funded substantially from the income of the International Finance Corporation (IFC), a Bank affiliate that promotes private sector development through investment and advisory services. The US$3.5 billion is expected to be contributed equally by IFC and the International Bank for Reconstruction and Development (IBRD), another Bank affiliate. Back to top
Vietnam Creditworthy for New Financing Mechanism
World Bank President Robert B. Zoellick announced today that Vietnam’s development progress and increasing creditworthiness had made it eligible to access World Bank financing offered to middle income countries. Based on its strong performance, Vietnam has been declared eligible for International Bank for Reconstruction and Development (IBRD) financing by the World Bank. This will supplement current support from the World Bank’s funding arm for low-income countries – the International Development Association (IDA). The terms of IBRD loans are more favorable than those available to middle income countries in international financial markets. Back to top
Korea Provides US$30 Million for Poverty Reduction and ICT Support
The Government of Korea has established two trust funds worth US$30 million that will help countries further their poverty reduction efforts and deliver government services more effectively. At a signing event at the Bank headquarters in Washington, Jim Adams, Vice President for the World Bank’s East and Asia and Pacific region said the poverty trust fund would support activities and analysis that fit with East Asian and Pacific recipient countries’ poverty reduction strategies. The Government of Korea will provide US$15 million for the first year with further resources available based on progress. The fund will co-finance Bank lending operations on a grant basis and provide resources for analytical and advisory support, technical assistance and training.
Zoellick: Globalization Must Benefit the World’s Poor
Speaking at the National Press Club in Washington, marking his first 100 days as President of the World Bank Group, Robert B. Zoellick explained that “globalization offers incredible opportunities. Yet 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.”
Release | Speech | Slideshow: The Vision of the World Bank Group
New Initiatives in Road Safety in China and Vietnam
The rapid growth in population and development in this region demands new programs to cope with the inevitable surge in traffic and to increase road safety. In an effort to address these challenges, road safety interventions have been incorporated as components of transport projects financed by the Bank throughout the East Asia and Pacific region since the early 1980s. Through policy dialogue, technical assistance, investment and program loans, various road safety measures and strategies were implemented to improve road safety in the region. In recent years, the Bank has implemented a series of transport safety initiatives in both China and Vietnam in an effort to reduce injury and loss of life.
Feature | Transport in China | Transport in Vietnam
More Bank news at www.worldbank.org/news Back to top
World Development Report 2008 - Agriculture for Development
The world's demand for food is expected to double within the next 50 years, while the natural resources that sustain agriculture will become increasingly scarce, degraded, and vulnerable to the effects of climate change. In many poor countries, agriculture accounts for at least 40 percent of GDP and 80 percent of employment. At the same time, about 70 percent of the world's poor live in rural areas and most depend on agriculture for their livelihoods. World Development Report 2008, which is subtitled “Agriculture for Development” seeks to assess where, when, and how agriculture can be an effective instrument for economic development, especially development that favors the poor.
Release | Report | Overview in Chinese (pdf) | The Agenda for Transforming Countries of Asia | Slideshow | Website | Agriculture in East Asia & Pacific
Back to top Immigration Has Minimal Impact on Thai Wages, Report Says
Contrary to the belief of many Thais, the influx of illegal immigrants in Thailand has not had a significant impact on employment of Thailand’s low-skilled workers over the last decade, a new World Bank study finds. The study, “Does Immigration to Thailand Reduce the Wages of Thai Workers?” shows that the effect of immigration on local wages has been minimal. Even a 10 percent increase in immigration would have led to a roughly two percent reduction on Thai wages, a small effect when compared to the average of 10 percent annual growth in Thailand’s wages in the 1990s. Back to top
Estimating global climate change impacts on hydropower projects : applications in India, Sri Lanka and Vietnam Foreign direct investment in Latin America during the emergence of China and India : stylized facts More Bank publications and reports at www.worldbank.org/reference
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Summary of proposed projects for the East Asia & Pacific region New and revised project information documents: China - Xian Sustainable Urban Transport
China - GEF China Thermal Power Efficiency
China - Guiyang Transport Project
Vietnam - Agriculture Competitiveness
For more information on projects and programs, visit http://www.worldbank.org/projects Back to top 
Video Meeting - Enhancing China’s Competitiveness through Lifelong Learning
China’s economy is growing at a tremendous and unprecedented speed, and constant adaptation and innovative problem solving are necessary to successfully face the challenges that result from such change. One of the greatest challenges, and one for which such adaptation is so crucial for continued economic success, is education. The report Enhancing China’s Competitiveness through Lifelong Learning, which was presented at Bank Headquarters in Washington recently, explained how the educational system must be reformed for China to remain competitive in today’s knowledge economy.
Facilities for Small and Medium Enterprises
The International Finance Corporation (IFC) offers numerous facilities to promote small business growth in developing countries. IFC works to make it easier for owners of small and medium-sized businesses to gain access to capital, equipment, information technology, technical assistance and advice. Opening – The Bank’s Scholarship Program
The Scholarship Program and the Fellowships Program are vehicles for knowledge sharing and capacity building in the developing world. The Programs provide opportunities for graduate studies leading to master's degree in development-related fields for mid-career professionals from the Bank’s member countries, eligible to borrow. Nationals of other member countries, not eligible to borrow, and those who cannot meet the Programs' eligibility criteria would have opportunities with other sponsors. For a full list of open positions and scholarships http://www.worldbank.org/jobs Back to top
 World Bank info on Google Maps
We have mashed up Google Maps with World Bank data to give you a visual entry point to browse our projects, news, statistics and public information centers by country. Online Tool for Data Analysis
The Bank's Enterprise Surveys team has launched a custom query tool called Do Your Own Analysis. It allows users to slice and dice firm-level, microeconomic data across 172 indicators from over 100 countries. Each query generates a custom graph that the user can cut and paste.These surveys measure business perceptions of the investment climate in countries, based on data from over 66,000 firms worldwide. They can be used to analyze job creation and growth trends. Back to top
The Philippines has a tremendous range of assets to draw upon for its development—a relatively educated populace with proficiency in English; plentiful managerial and entrepreneurial talent; global demand for its labor force; and abundant natural resources, among others. Still, overall development outcomes have fallen short of potential. In the past two and a half years, however, the Philippines has displayed marked progress in economic growth.
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