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George D. Woods, the President of the World Bank, remarked that both investment and trade are basic to economic development, which is the essential preoccupation of the Bank. He suggested that, in approaching its agenda, the aim of this Conference must be nothing less than to make a real start in evolving international trade and development policies which are more adequate than those presently prevailing for stimulating economic growth throughout the developing world. One consideration is whether to seek greater price stability through commodity agreements, or to try to mitigate the effects of price fluctuations through some new form of compensatory financing, or to try some new approach altogether. He earnestly urged that governments re-examine the amount of their pledges to IDA in the light of the pressing investment requirements of the developing countries.

Agricultural Productivity --- Official Development Assistance

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Eugene R. Black, President of the World Bank, bid farewell to Robert Garner, who presided over the birth of the International Finance Corporation and nursed it through its inevitable growing pains. He then focused on some old and some new problems, and, in particular, the newest member of the World Bank family, the International Development Association. IDA credits will have grace periods, long maturities, and low or no interest or commitment charges. Many IDA recipients have heavy foreign debt service burdens. He concluded by saying that the share of capital should increase that goes to the underdeveloped countries on terms properly geared to their requirements.

International Development Association --- International Finance Corporation --- Official Development Assistance --- Technical Assistance

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Paul Wolfowitz, President of the World Bank, discussed governance and anticorruption being at the heart of Africa's development future. He spoke of donor coordination and IDA's work in the region.

Anticorruption --- Finance and Financial Sector Development --- Governance --- International Governmental Organizations --- National Governance --- Official Development Assistance --- Public Sector Development

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George D. Woods, President of the World Bank Group, spoke about the proposal to markedly increase the funds available to the World Bank's affiliate, the International Development Association (IDA) and the financial resources going to the new regional development banks working in Africa, Asia and Latin America. The United Nations Development Program is also trying to raise the level of the government contributions it receives. Governments must soon decide about these measures of support for multilateral institutions. If the momentum of economic growth in countries of Africa, Asia and Latin America is lost, if leaders in these regions lose heart, then the prospect is for deterioration in world affairs that in the end will inevitably be of the highest concern in the industrial countries themselves. This need not be the future. And it will not be the future if the industrialized countries give development finance a realistic priority among their other concerns and responsibilities. He spoke about the difference between tied aid and untied aid. He discussed the Development Assistance Committee consultative group and aid coordination. The Bank acts as an honest broker and expert adviser.

Development Economics and Aid Effectiveness --- Finance and Development --- Finance and Financial Sector Development --- Foreign Aid --- Governance --- International Governmental Organizations --- Macroeconomics and Economic Growth --- Official Development Assistance

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This Country Partnership Framework (CPF) presents the World Bank Group (WBG) program for Niger for the period FY18-FY22. The CPF comes at an opportune moment as an exceptional volume of resources is now available to Niger, allowing the WBG to intensify and deepen its engagement in Niger. It will succeed the FY13-FY16 Country Partnership Strategy (CPS), and is aligned with the second Plan for Economic and Social Development (Plan de Developpement Economique et Social - PDES) prepared by the Government of Niger (GoN) within the context of its Vision 2035. The CPF draws on a comprehensive Systematic Country Diagnostic (SCD)2 completed in FY17, which identified growth constraints and opportunities to achieving the World Bank's Twin Goals of eliminating poverty and fostering shared prosperity in a socially and environmentally sustainable way. It also reflects the GoN's commitment to the Sustainable Development Goals (SDGs) and its responsibilities and priorities around climate change mitigation and adaptation. The overarching goal of the CPF is to help safeguard and accelerate Niger's economic and social development, by tackling growth constraints, unsustainable population growth and other fundamental (and emerging) drivers of fragility. In the short term, and within this overarching goal, the FY18-FY22 CPF will not only focus on boosting rural productivity and incomes, and strengthening human capital and governance, but also on empowering women and girls, a key strategy to reverse Niger's record high levels of fertility and population growth. In the medium-term, reduced demographic pressures are expected to unleash women's economic potential and free up public resources for improving basic service delivery, which in turn will enable further empowerment of women and girls in a self-sustaining virtuous circle. The CPF will also address fragility, conflict and violence (FCV) risks by supporting Niger's response to existing crises and by helping to reduce rising tensions. This will require targeting resources to the most fragile and crisis-affected regions and directly addressing other drivers of conflict and fragility, such as youth disenfranchisement, grievances over allocation of government resources, and competition for scarce natural resources. Strengthening institutions will be critical to manage these risks and support social cohesion. The CPF draws on the combined contribution of the WBG including renewed efforts by the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) to derisk private investment in Niger. This CPF sets out a strategy for achieving a crucial change of trajectory financed by a doubling of resources relative to the previous CPS. The program draws on new sources of financing available under the International Development Association (IDA), including enhanced country allocation with additional resources from the Risk Mitigation Regime (RMR)3, and potential access to the Refugees Sub-Window, the Regional Integration Window, and other IDA windows. Total IDA resources available in IDA18 could be over USD 1 billion, which represents an unprecedented opportunity to upgrade and expand the scope of the WBG's assistance in Niger.

Economic Growth --- Fiscal and Monetary Policy --- Gender --- Governance --- Inequality --- International Governmental Organizations --- Macroeconomics and Economic Growth --- National Governance --- Official Development Assistance --- Poverty Reduction --- Risk Management