Africa: Bank, Fund Pledge To Fight Disease And Poverty

1 May 2001
allAfrica.com
By Charles Cobb Jr.

Washington, DC — Combating the spread of infectious diseases, especially HIV/AIDS and the spread of poverty, are of primary concern, financial officials said at the close of the spring meeting of the World Bank and International Monetary Fund. Briefing reporters after the final session of the Development Committee Monday, World Bank President James Wolfensohn said there was "warm recognition both of the Bank's role and of the partnership which exists between the Bank and the Fund with poverty at its center."

There was "total consensus," Wolfensohn said, that the Bank "should stay focused on poverty."

Linked as it is to poverty, HIV/AIDS, especially in Africa, demands immediate attention the Committee felt, expressing "great concern" at "the growing evidence of its devastating toll." The Committee wants a "multilateral trust fund" to combat AIDS, malaria and TB. It is not clear whether this fund would be created by the Betton Woods institutions or separately from them. The Committee also urged the IMF and the United Nations to "play an active role as a facilitator of the improved links between the pharmaceutical undustry and developing countries in support of AID-related programs."

"I come away with a strong sense of support from the shareholders and on the communicable diseases issue, a sense which comes out in the [Development Committee] communique that they'd like the Bank to play an important role if that is desired by the donors," says Wolfensohn. "We are prepared to do that."

Asked about G7 major industrial nations concern about effective use of the money - another critical undertone of the Spring meeting - Mr. Wolfensohn cited Uganda and the Bahamas as examples of countries successfully attacking the AIDS problem. "I think that I would be able to convince them that a well-directed program on AIDS is possible, particularly now that retroviral drugs are likely to come in at less cost."

Despite discussion that ranged from operational policies to financial architecture and trade, the debt issue, which has hovered over almost every discussion at the meetings, was not mentioned at all in the Committee's formal communique.

The Development Committee was created in 1974 for the purpose of building consensus among governments and advising the Bank and IMF on economic development in poor nations.

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