THE WORLD BANK
PRESS CONFERENCE
COUNCIL ON FOREIGN RELATIONS
Washington, D.C, June 12, 2002
PROCEEDINGS
MR. SPERLING: Welcome to the Council on Foreign Relations. My name is Gene Sperling, and I am director of the new Center for Universal Education at the Council on Foreign Relations. It's not the only hat I wear. I also work on the Basic Education Coalition, which its Executive Director George Ingram is here, and I'm also helping to chair the U.S. chapter of the Global Campaign on Education. Both involve getting a larger coalition of organizations advocating for universal education by 2015. What I'd like to do is just right now tell you who our guests are. I'm going to take the prerogative of making a couple of opening remarks, and then we'll start by turning things over to President Wolfensohn. But let me first just announce who we have here: Phil Twyford, who is the Global Advocacy Director of Oxfam International; Christine Churcher, who is the Minister of Basic, Secondary and Girls' Education in Ghana. Obviously, all of our guests from Africa have traveled a long way to be here with us. President Wolfensohn needs no introduction. Ann-Therese Ndong-Jatta is the Secretary of State for Education in the Gambia. Minister Gennet Zewide is the Minister of Ethiopia and, may I mention, one of the longest-serving Ministers probably anywhere in the world now; 11 years she has been the Minister of Education in Ethiopia. I don't think anybody in the United States has ever survived so long. And then, finally, Amina Ibrahim, she is the Coordinator for the Education for All effort in Nigeria, and so she serves both in a civil service capacity and actually assists the government in coordinating their Education for All plans. We have many guests here. I won't mention all of them, but certainly Jo Ritzen and Ruth Kagia who have worked so hard under President Wolfensohn's leadership at the Bank on education, and many others. But let me make a few opening comments. All of us would agree that in Jomtien in 1990 the goal of universal education turned out to be very much a broken promise. And so in Dakar, Senegal, in 2000, there was an attempt at a new beginning, a World Education Forum in which 180 countries of all stripes committed to the goal of universal education, basic primary education by 2015. The vision of that was very much laid out by President Wolfensohn and adopted by the countries, which was that where a country came forward with a strong and accountable Education for All plan, they would not see those efforts denied due to lack of resources. Yet as the last year or two proceeded, there was at first little sign that there was going to be progress from Dakar; unlike debt relief where there is a clear global contract, a clear understanding of what developed countries are going to do, what their cost sharing is, and what the developing countries have to do to be eligible. In the area of education, there is no clear global contract. There had been no clear sense of criteria, no clear sense that certain reform efforts would lead to assistance in any sense. And so what really is required in this area is an understanding, a certainty, a certain global compact that where countries take--mobilizing both their financial and their political capital to reach universal education, that there will be a certainty of assistance, number one; and, number two, there will be a certainty that that assistance will come in a coordinated way; that the countries, even if it bilateral aid, will coordinate that at the country level so that we are not having the overlapping, conflicting, fragmented problems. The good news is that over the last few months not only has there been increased commitments from the United States and others in Monterrey, but that the World Bank has stepped forward and laid out a financing structure and an action plan to actually start to bring some certainty and clarity to a global contract. And they're laying out, as President Wolfensohn will discuss, a fast track initiative to make this initiative real as much as possible. One of the reasons for the timing of our conference yesterday on Education for All in Africa and this press conference is that the G-7 and G-8 Finance Minister meetings come up at the end of this week, and then the G-7/G-8 head of state meetings are the following week. These are critical meetings for the momentum of this initiative. It will be very much up to the G-7/G-8 as to whether or not they will put forward the specific financial commitments that will make this real. The G-8 will decide whether this is a fast track to universal education or a fast track to another broken promise. The G-8 will decide whether this is a new action plan or another excuse for inaction. Speaking as a U.S. citizen, I hope very much that the United States will lead. I think there's no question of the passion and commitment of President and Laura Bush, Secretary Powell, and Secretary O'Neill. The principles that they have laid out--that countries take ownership of plans, that aid be effective and performance-based, monitored, and accountable--all of those are part of the framework in education. And while some visions of the U.S. Millennium Challenge Fund and others may look at just kind of bilateral assistance to some countries who meet a broad criteria, I think the principles that should very much allow for a specific financial commitment to a coordinated global initiative that will make us truly proceed in a real global compact on universal education. So thank you, and with that I will turn the floor over to President Wolfensohn, and then we'll hear very briefly from our other guests and take questions. MR. WOLFENSOHN: Well, thank you very much, Gene. And let me say at the outset that I'm very happy to share the platform with colleagues who are on the front line of this initiative and to thank them for their support. The World Bank is announcing this today, but I would like you to know that in announcing this, it is in behalf of a lot of people who have been consulted and who have participated and will participate in this initiative. Of course, Oxfam has been extraordinarily supportive, both in terms of putting the case and in terms of implementation. But we've had total discussions with UNESCO and UNICEF, with a number of national governments, with the European Union, and I want to say that insofar as we can, this is an initiative that has gained a lot of coherence and support from others, and it is not just something that we're dumping on the community today or, indeed, seeking to assert primacy. On the other hand, I think it's important that prior to the meetings that are coming up of the G-7/G-8, that we take the steps that were already indicated at the time of the Monterrey meetings and, in particular, at the time of the Spring Meetings when we had an Education for All paper that was distributed to all the Ministers, and in which we spoke of the importance of moving from concept to reality, getting away from the talk, of which we've had a lot, into actually doing the job. And so what we're announcing today is nothing--is not rocket science. It is simply saying let's now identify those countries which have an overall strategy for national development in their countries, have an education strategy that is doable, and let's get behind them and say to them that if you have those conditions precedent, if you are anxious to move forward to be participants in this program and to demonstrate that you can manage and achieve the program, then we will seek to provide you with the necessary financing that allows that to take place. And so we have done a review of all 88 countries, but in particular, 47 countries that are the poorest countries, and have concluded that there are 18 countries that should immediately get on the fast track for this partnership between the governments and the administrators of the education programs and the international community. They represent--and we've given you a list--18 countries which have within them 17 million children that have not seen the inside of a school and that we want to get into school; and five of the larger countries that have different stages of development of their education programs and their national strategies, and where we want to give them the immediate technical assistance and help so that they come up with an overall national framework that we can get behind and support, and that is another 50 million kids that we're seeking to engage. So this is really an identification of specific countries who have existing programs or programs that will need to be brought up to speed, where we are asserting that we should have long-term commitments to ensure that they get universal primary education. We have named the countries here, and the list is before you so I won't read it, but it constitutes breaking the back of the problem of education and assuring a partnership between those who wish to offer the education and those who will finance it. This is not a free-money activity. This is not just saying money solves it all, because money doesn't solve it all. It is money associated with intelligent programs, properly administered and correctly assessed, that is the partnership that we're looking for. But what we have not been able to do until this moment is to give the assurance of the financial resources, and this is an attempt to assure the financial resources that will parallel the professional activities of people like those that are sitting at the table here. So we're very excited that this should go forward. We estimate that for the 47 countries there would be an amount of the order of $3 billion that will be required on an annual basis. This is a sum that is well within the context even of the additional funding that was pledged in Monterrey. It's clearly at the base of the development process, and so we're very hopeful that we can get both an endorsement and specific support. We are not suggesting a new fund. That in itself would probably take several years to negotiate. So we've decided to avoid the notion of a fund, and it's really not necessary. What is necessary is to have an annual consultative process in which we review the progress, ensure that continuing financing is available, and we in the Bank are really deeply committed to try and make this work. And I'm very happy to have the chance to announce the initiative to you today. MR. SPERLING: Thank you. Now we'll hear briefly from a couple of our guests who are among some of the countries who are on the fast track to move forward. Secretary of State, Gambia would you like to go first? MS. NDONG-JATTA: Thank you very much. I believe I wouldn't have much to add after listening to what has been communicated by the President of the World Bank. But the only thing I want to say is that this is a wonderful opportunity. We've never come this close to, using his words, breaking the back, you know, of the camel here, but then clearly to me it's like this is just the first hurdle. In 1990, the pronouncement was made, the vision was clear, but no time was taken to clearly articulate how. Now we've come close to saying precisely how this partnership would evolve over time. But the greatest hurdle is to really get the other part of the equation. The World Bank had done right by working closely in consultation with other groups, other parties, other agencies to clean up and come up with the action plan. But the action plan remains a plan until we have something on the table. Promises have been made since 1990. It's two years down since Dakar. Nothing concrete has come out but the action plan. Support has been provided in the past, but given the financing gap, it has not even come close to this. And for the countries that are on the fast track, clearly they have done their utmost. The political will is there. A lot of mobilization of resources at the national level is going on. But considering the high levels of poverty and the competing needs of these developing countries, extra support is required. And I believe this is where America can take the lead. America has the leadership role to make that pronouncement and give more than what it has given in the past. Although appreciated, it's been very low. Let us see something close to the 0.8 percent of GDP coming in. I think it is easy. It's been queried that there has been no credible plan. There is a plan at the level of the donors, of the development partners. And there are plans at the level of the national governments. And if we are not to go back on the promises of Dakar, on the pledge that has been made, that where you have credible plans, where you have commitment and political will, where everything is put right, there will be no frustration. This is the time to show it. So I believe it's a challenge to the G-7 Ministers and the G-8 when they meet ----to tell the world whether they really seriously mean to eradicate poverty, to come closer to creating a more just world, to creating a society that would really bring about greater equity and, therefore, peace. That's the best way to fight terrorism. That's the best way to fight hunger. And I think the time is now because everything is right. We're only waiting for the yes coming from these great nations that have paid a lot of lip service to the promises and back these promises with finances. I thank you. MR. SPERLING: Gennet Zewide from Ethiopia. MS. ZEWIDE: Thank you, Gene, and I would like to thank the World Bank for taking this first initiative in the process of fast-tracking those of us who have the right plans, not only for education, for the overall economic plans of our countries. I read somewhere in the World Bank paper a statement. I don't know who said it, but its essence is that the best to plant a tree was yesterday. We didn't have this fast-tracking yesterday, but, still, it is a good thing that we have it today. The G-8, the World Bank, and other donors for education promised that if a country has a working plan, a development plan, that its plan will not be hampered for lack of money. I think the World Bank has taken the first initiative in fulfilling that promise, and I'm hoping that the G-8, when they meet in Canada this June, they'll back the World Bank's initiative. Ladies and gentlemen, the World Bank has done its homework. The ball is in our court, which means in those of us countries who have to break the vicious circle of lack of education. We have to improve this vicious circle into a virtuous circle where education, where every child, boys and girls, that is, will complete at least primary education so that our countries, our agriculture, our economy, our industry could be improved, and then be able to say that this world, this globe has no other--no child without primary education. So these words, like my colleague says, Ann-Therese said, that it will be a peaceful world where everybody can enjoy the science and technologies that have advanced, because it's only through education that peace can be realized. It's only through education that true partnership between the haves and the have-nots can be realized. And for that I appreciate the initiative taken by the World Bank. I remember when we met in March in Amsterdam there was some kind of tension whether to undertake first few countries in fast track. But there were big countries which were against it. I am glad that the World Bank initiative won and is going to see the light of the day. Thank you very much. MR. SPERLING: Minister Churcher from Ghana. MS. CHURCHER: Let me first say that the news today is very heart-warming and welcome indeed. We have indeed since independence we have fought. We know the role of education. We have been committed. Yes, some of our leaders have been corrupt. Some of our leaders have mismanaged money meant for education. We accept all that. But we have made positive inroads. The fact that there are yawning gaps, the fact that serious inequities exist in education, the fact that between the poor and the rich there are yawning gaps, the fact that the rural child cannot even get a quality education even when the school buildings are there, the fact that teachers, especially in Ghana, would even refuse posting into rural areas, has given us enough food for anxiety. We look at the world and say when are we going to see equity. In Ghana, we have been looking forward to a day where the gaps will be filled. But life itself is a journey, and achieving education for all for me is a journey. Like a newborn baby, you don't just get up and toddle. You toddle, you walk before you run. We have toddled. We have tried to walk. But we are not running yet. The community we support it to run. For us, this is good news again because then we know that the many children in our world today whose future is being jeopardized, destroyed because they do not have education will then see that the inequities will be reduced, that we can also live as people who have tools sharpened to be able to meet the challenges that the world offers us. Finally, let me also say that talking about the problems that beset us, we also know that the world is constantly being drawn together and pulled together. What affects one affects all the others, whether we like it or not. I believe that we have no choice. For me it's not a question of should we do it or we shouldn't. For us to get the peace that we so much desire, for us to get the forward movement, for us to understand issues that confront man, and for us to live together peacefully, as equal partners, we need to use education as a tool. When most of Africans are uneducated, then it means that whatever inequities exist will be deepened. There shall be no peace because our youth will flock your markets. They will flock the embassies. They will say home is not sweet, and they will deny their people the very essence of their being. Thank God today we come with a sigh of relief, not because we are yet there but because we have been given tools, we have been sharpening them all, and we are being told that you are being fast-tracked and that we're going to put in more. It's our prayer that at the G-8 meeting everybody there will know that there is no choice. Everybody will know that the education of the child can no longer be negotiated, can no longer be compromised, that at the end of the day, America, which has always shown the way and provided leadership, will sing the voice of education be highest on the agenda and Africa being the most beneficiary. We are grateful, and on behalf of our colleagues, let me say that this trip to Washington has been worthwhile, and today for me is the climax because it shows how the windows are going to open. Thank you very much. MR. SPERLING: Thank you. Now, Amina Ibrahim, who is the coordinator for Education for All efforts in Nigeria. MS. IBRAHIM: Thank you. I think we can say today that African nations, many have demonstrated their commitment to the Dakar promise in coming up with some credible plans, and many of these are on the list that the President of the World Bank has mentioned. Many others are in the process of trying to achieve that. And to keep that momentum, we certainly needed the support that we got today from the President of the World Bank in announcing the fast-track initiative. But to make that a reality, we hope that the G-8 and the G-7 meetings will produce the backing that it needs in cash on the table so that that can be moved forward and we can say that in 2003 and 2004 we increase the number of countries that come to try and realize education for all. We'd like to see that everybody is on board when it comes to trying to define the world that we so look for with peace, lack of--no poverty, and less conflict. Many of us are democracies in transition, and we need the initiatives. We need these initiatives to sustain that and to carry us forward. I think the Ministers have said just about all that we would like to say, and we thank you for this opportunity. MR. SPERLING: Phil Twyford from Oxfam. MR. TWYFORD: One hundred twenty-five million children don't go to school. All that stands between them now and an education are seven of the world's most powerful Finance Ministers. The arguments have all been heard. Everyone agrees. Education with the right policies in place can lift millions out of poverty, improve quality of life, and build democracy. Good plans are in place. Education Ministers from developing countries are coming forward. The World Bank has done its job. It's launched today a credible plan for coordinating donors to make sure that all good plans get the funding they need. The time for talking, for setting targets and affirming principles is clearly over. The G-7 needs to dig in its pockets and find $4 billion. That's a reasonable share of the $10 to $15 billion needed to get every child into school. The G-7 must immediately fund the initial group of countries to be fast-tracked and endorse a financing framework to make sure that this is not just a single noble donation painfully extracted, but just the first wave of an ongoing commitment and joint work until every child is in school. But we have reason to worry. The G-8 have shown us that they're much better at public relations initiatives than they are at delivering results. France claims to be a leader in education. It gives 1.2 percent of its aid to basic education. Germany is the only country that has made-of the G-8 countries, it's the only one to have made a specific commitment of support to countries, but it has yet to name a dollar figure. Gordon Brown, the U.K. Chancellor, has said all the right things in recent months, but, Chancellor, now is the time to show us your money. Canada has also been a leader when it comes to rhetoric. New Finance Minister John Manley mustn't drop the ball at this point. It would be a real shame if the new Minister failed to carry through the leadership that Canada has shown on this issue. United States Treasury Secretary Paul O'Neill's twin passions of aid effectiveness and education should make this outcomes-based plan a no-brainer. But it's unclear at this point whether or not the U.S. will support this global initiative or whether it will go off and do its own thing. Every G-8 government and almost all the G-8 Finance Ministers are on record supporting the importance of education. Now is the time to put up or shut up. Memo to Finance Ministers: Don't blow it; 125 million children need you to get this right. MR. SPERLING: Thank you. We're now open for questions. QUESTION: Marty Kretzinger with the Associated Press. Could I ask Mr. Wolfensohn if he could confirm Mr. Twyford's assessment of where the G-8 stands right now? And do you expect any kinds of pledges out of Halifax? MR. WOLFENSOHN: Well, he's Australian, you see, the way he expresses himself. [Laughter.] MR. WOLFENSOHN: And I'm mutated Australian. I think that it is a moment now for the G-7 and the G-8 to go beyond rhetoric and to indicate practical support for this program. This is not a dramatic step in one sense in that this is what everybody has been talking about. All that we're suggesting is that we now do it. And it's my hope and expectation that the G-7/G-8 will, in fact, agree to do it. If they don't, it's very hard to know what one can do, because we're suggesting nothing revolutionary, we're simply taking people at their word and saying let's move forward. And I think that it is likely that the G-8 will meet the test. Certainly I will be in Halifax trying to explain to them this moment and the importance of stepping forward. QUESTION: And is the $4 billion in the range of-- MR. WOLFENSOHN: I think the $3 to $4 billion level--you see, you've got a total amount of north of $12 billion, of which a considerable amount is already provided by internal financing and some existing support. What we're talking about here is the incremental amount to ensure--in today's announcement an incremental amount to ensure that any gaps that there have been are filled. And I think each of the Ministers here has experience in recognizing that there are gaps which prevent them from bringing about the goal that we're seeking. So we're talking order of magnitude exactly the same numbers, and I think Phil's numbers order of magnitude are the ones that we would agree with. What we need to do is to now get engaged and know that we have this underpinning. And, clearly, we need the G-7/G-8 support, and without any flamboyance or rhetoric, we're essentially saying this is what we said we would come up with at the Spring Meetings. We have produced the fast-track initiative. We've done it in consultation with bilateral and multilateral agencies. Here it is. Very straightforward. And I believe that that is the most compelling argument that we can put to the G-7/G-8. QUESTION: David Dieudonne from the French News Agency. I would have two questions. The first one, which are the criteria for a country to be eligible for the fast-track program? The second point, after the statement made by Mrs. Bush in particular about education as a way to prevent terrorism, how do you--why didn't you include Pakistan in the first track and Afghanistan at least in the second one? Or do you have special plans for these countries? Thank you. MR. WOLFENSOHN: Well, first of all, the basis on which we have sought to qualify the countries is very straightforward: first, that they have an overall national economic and social plan which can be a poverty reduction strategy or a national plan. We're not concerned about the nomenclature. We're concerned that they have an integrated national program so that we're not just picking at one project and another project, because we know that for effective development you need an integrated national plan. And within that national plan, we are looking for an education sector-wide plan that covers the whole country and deals in an appropriate way with all aspects of education, from schools to curriculum to teachers to all the aspects that go into an educational plan, and that it's comprehensive and does not favor one group against another but which is a truly national plan. And so that is the sort of basic--the two basis building blocks on which we are then able to choose these countries for the fast-track strategy. And that's rational because if you don't have that, pouring money--as the Ministers all here would, I'm sure, agree, pouring money into something without that is a waste of money and incites all sorts of inappropriate behavior. And so I don't think there is any--of any of the serious Finance Ministers I've met, there has never been a problem with this framework. They're all very serious people, and they want to have that framework, and so we're just meeting them on their ground and saying if you have that, we'll support you. I believe I'm right in saying that. So that is the basis on which we are going to--with regard to the comment on terrorism and education, we are not limiting this group to 23 countries. Our hope is that we'll get all 88 countries, and in particular, we'll get all 47 of the poorest countries. I have just come back from Afghanistan, and the very first thing we did in Afghanistan was to try and get the kids back into school on March 18th. So we're not turning our backs on Afghanistan, and Pakistan is on the list here as one of the countries that we hope to get into fast track. While I agree very much that education is a basis for poverty alleviation and, consequently, diminishing the prospect of terror, we're not approaching this on the basis of some anti-terror program. We're approaching this on the basis of the fundamentals of education, which leads to the result that you have, as the Ministers said, greater opportunity and greater peace. We don't want to turn it on its head and try and have some tactical program when what we're suggesting is something that's very basic. So we will try and hit all the countries. We're not against Afghanistan. Quite the contrary, it was the first thing that we looked at in Afghanistan. And as I've said on Pakistan and on many other countries that have uncertainties in their country, we will be approaching all of them. QUESTION: Alan Beatie from the Financial Times. How confident are you that all the countries on this list actually have the capacity to absorb and spend all this aid correctly, given that some of them, I think, are already having problems and already having problems with some of their donors in spending all the money they have wisely? MR. WOLFENSOHN: Well, I think the existence of a list does not mean that you do not have the prospects of ups and downs in terms of administration. I don't think any of us believe that. What we do believe is that this is a group of people that meet the primary conditions for an Education for All strategy and for fast-tracking. And we will continue to work together with them. We're well aware of both the pluses and the minuses of many of the countries, but our judgment is that this is a first-rate list where you have an education program, committed leaders, and where, in our judgment, a combination of their initiative and our support will likely lead us to universal primary education in those countries. I don't think any Minister here underestimates the complexity-- MS. NDONG-JATTA: No, we don't. MR. WOLFENSOHN: --of achieving the objective, and if they do, maybe they should speak. But I think all of us understand the reality of the education process. But you've got to give it a chance, and you've got to give it a start. And if you have people of the quality that we have at this table, my own personal belief, frankly, is that if we can get behind them, we've got a very good chance of achieving our objective. But these are the front-line people. Maybe they'd like to comment, because they represent reality. And I think what they want is our support. And they're all very conscious that it's a damn difficult thing to do. But you can't do it at all if you don't have the resources. Is that correct? MS. ZEWIDE: It is correct. MR. WOLFENSOHN: Please. MS. ZEWIDE: I would like to comment. Mr. Wolfensohn, you are absolutely correct in saying that, you know, if we don't get the support, we'll not do it, we'll not do anything at all. But the question of capacity, you know, how do you develop capacity, I guess capacity is developed through the process of performance. And also the past few years have demonstrated that under (?) and challenging and uphill struggles, we have developed capacity in performing, even in the production of our workable programs, and also where we are producing--we are performing the program. At the same time, we will develop capacity. I think capacity is developed through that process. As to the use of the fund, definitely the demands are high. The challenge is formidable. Under the circumstances where millions of children, boys and girls, are out of school, there is no way that money is enough. You know, there is no way that we will just have the fund that is given to us not to be used at all. Of course, the question of mismanagement, I think Mr. Wolfensohn when he addressed--when he announced the countries, it was addressed that these countries have a monitorable target. There will be monitoring and evaluation where every year we will sit with the Bank or with the donors where we'll be evaluated as to whether we have reached the targets that we have set for a particular year, and so on and so forth. So we are on the front line where I think getting this money be used wisely and without mismanagement is uppermost interest of our governments. We have commitment to our people. We have a constituency. Most of us are elected governments who have to report and show results to our constituents. Moreover, the majority of the fund, the bulk of the fund comes from inner source, from the governments, from the community. What the World Bank initiative and we hope what the G-8 will support would only cover and top up the financing gap. So we are committed to our own people. We'll make sure that it will be used appropriately, and we'll develop the capacity as we go along. That is how capacity is created in any way. And we are accountable. We're saying that we are ready to be audited, to be evaluated, and we'll be accountable. First, we're accountable to our own people. And then we're accountable to whoever is assisting us. Thank you. MR. WOLFENSOHN: Maybe one more question and then we should conclude. QUESTION: Barry Wood, Voice of America. Is there any relationship between this initiative on education and NEPAD? MR. WOLFENSOHN: Well, the NEPAD Initiative, as you know, is an initiative which is multi-faceted in terms of the presentations by African leadership of what they wish to do in the continent of Africa to bring about development. And one of the key elements in the NEPAD statement is, in fact, capacity building and education. So this is inherent in the NEPAD Initiative because the African leadership recognizes that there cannot be progress without a good educational and capacity base. So it's not directly related, but it is wholly consistent with the directions of NEPAD, and if we didn't do this, we'd have to invent something else to help to achieve the objectives of NEPAD. I wouldn't want to close without acknowledging Gene Sperling's work in this. Gene has had a distinguished record, and it's impressive to me that he's devoting a lot of his time to this subject. I just want to say, Gene, thank you for your leadership and for your involvement. MR. SPERLING: Why don't we do the following: I think President Wolfensohn needs to be somewhere by 10:30, and we've left him about six minutes to get there. But I think most of us can stay here, and people who have further questions, we're happy to answer them. Also, Ruth Kagia and Jo Ritzen, who helped work on the plan, have a lot of the details on the criteria, et cetera. So why don't we end the formal part, but I think most of the people here can wait around, and if you're interested in talking further or interviewing one of the Ministers of Education, I'm quite sure that they would be very happy to speak with you. Thank you. MR. WOLFENSOHN: Thanks a lot. [Whereupon, at 10:22 a.m., the press conference was concluded.] |
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