Replenishment Authorizations for the World Bank's International Development Association, the Asian Development Fund, and the African Development Fund: Hearing Before the Subcommittee on International Economic Policy, Export and Trade Promotion of the Committee on Foreign Relations, United States Senate, One Hundred Seventh Congress, Second Session, September 12, 2002

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Page 6 - Association are to promote economic development, increase productivity and thus raise standards of living in the less-developed areas of the world included within the Association's membership, in particular by providing finance to meet their important developmental requirements on terms which are more flexible and bear less heavily on the balance of payments than those of conventional loans...
Page 18 - UN, the World Bank, the International Monetary Fund, the World Trade Organization, and transnational corporations.
Page 38 - I would like to thank you for giving me this opportunity to testify on the subject of the high incidence of cancer in the urban areas of the United States.
Page 38 - In other words, the Bank is not organized to assist countries to develop their economies and improve the quality of life for their citizens. Further, the memo charges: The Bank today has no focus and is driven by an ever growing list of mandates imposed on it through a variety of means — President's favored subjects.... Board sentiments..., public pressures, ideas generated by internal constituencies, and even fads. ... "No initiative that starts as a pilot is ever considered a failure because...
Page 6 - IDA'S assistance for HIV/AIDS will be in grant form for all IDA-only countries, and up to 25% of such assistance to blend countries (those eligible for both IBRD and IDA) will also be in the form of grants. All of IDA'S assistance for natural disaster reconstruction will be in grant form. And up to 40% of IDA's assistance to post-conflict countries will now be delivered on grant terms. This is a significant achievement in terms of meeting the Administration's policy objective of helping poor countries...
Page 7 - It estimated that donors would have to increase their contributions at an annual rate less than the rate of inflation to offset the costs of grants that is a decline in real terms. Second, another key achievement in the IDA replenishment is a contribution structure that allows donors to increase their levels of funding if concrete measurable results are achieved. Donors and developing countries will benefit from routinely quantifying development achievements and understanding the reasons for success...
Page 37 - The number of people living on less than a dollar a day has remained unchanged at 1.3 bn (Denny and Brittain, The Guardian, 12th July, 1999).
Page 19 - ... economies. As the members of this Committee know, whereas the IBRD raises most of its funds on the world's financial markets, IDA is funded largely by contributions from the governments of richer member countries. Donors get together every three years to replenish IDA funds. IDA lending is a cost-effective way for the US government to promote its development goals, since each dollar contributed by the United States is matched by over seven dollars from other donors and repayments...
Page 21 - AIDS, and natural disaster reconstruction programs, as well as for countries recovering from conflict. Initially, The Bretton Woods Committee expressed concern about the proposal to convert up to 50 percent of IDA loans to grants. While grants make great sense, we were worried about the feasibility...
Page 18 - IDA loans have maturities of 35 or 40 years with a 10-year grace period on repayment of principal. There is no interest charge, but credits do carry a small service charge.

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