Tuesday, November 6, 2007

India & China influential countries says World Bank

The head of the World Bank says China and India are both playing big and influential roles in formulating policies despite the two countries being under-represented when it comes to formal bank voting rights.
--------------------------------------------------------------------------------
World Bank Chief Praises Indian, Chinese Influence in Top Funding Agencies

In his first trip to South Asia since being named president of the World Bank, former U.S. trade representative Robert Zoellick is calling for India and China to take a larger role in the multi-national funding agency. He is rebutting criticism that the two largest nations need additional voting rights in the bank and at the International Monetary Fund to have commensurate clout with the United States, Japan and European stakeholders.
When the Indian and Chinese executive directors speak up, regardless of the formal votes - because not many things are done in formal votes in those institutions - they're listened to because they're representing big and influential countries," he said. "And I think that's a good thing. And that's one reason why I've taken a different approach than some suggested and remain a good partner with China and India."
Zoellick says fighting theft of funds is also on his agenda.

Read more; click here.

No comments: