World Bank president Robert Zoellick said Arab countries have been "underserved" by the development lender and that he wants to develop an initiative to get more involved in the Arab world, according to an interview published in the Wall Street Journal yesterday.
Zoellick also said that the bank will continue to lend to middle-income countries like China, Brazil and India despite criticism of the practice because a large majority of the world's poor live in those countries.
"There are some 70 percent of the poor in middle-income countries. If we are going to deal with the poverty agenda, we need to be engaged with these countries," he told the Journal, ahead of a major policy address planned for tomorrow.
"[Also] if you look at what's happening in the fields of diplomacy and political and security affairs, one of the big challenges is how we integrate the Indias, the Chinas and the Brazils in the multilateral system," Zoellick said.
"It strikes me as illogical that you would be trying to engage them in creating a new multilateral order, and not do it in the multilateral economic system," he said.
"This is a set of countries [that have] probably been underserved by the bank, and so what I'm trying to identify is how can we work with some of these governments and the private sector to create additional opportunity and development," he said.
Archeologists in Peru on Thursday said they found the 5,000-year-old remains of a noblewoman at the sacred city of Caral, revealing the important role played by women in the oldest center of civilization in the Americas. “What has been discovered corresponds to a woman who apparently had elevated status, an elite woman,” archeologist David Palomino said. The mummy was found in Aspero, a sacred site within the city of Caral that was a garbage dump for more than 30 years until becoming an archeological site in the 1990s. Palomino said the carefully preserved remains, dating to 3,000BC, contained skin, part of the
TRUMP EFFECT: The win capped one of the most dramatic turnarounds in Canadian political history after the Conservatives had led the Liberals by more than 20 points Canadian Prime Minister Mark Carney yesterday pledged to win US President Donald Trump’s trade war after winning Canada’s election and leading his Liberal Party to another term in power. Following a campaign dominated by Trump’s tariffs and annexation threats, Carney promised to chart “a new path forward” in a world “fundamentally changed” by a US that is newly hostile to free trade. “We are over the shock of the American betrayal, but we should never forget the lessons,” said Carney, who led the central banks of Canada and the UK before entering politics earlier this year. “We will win this trade war and
‘BODIES EVERYWHERE’: The incident occurred at a Filipino festival celebrating an anti-colonial leader, with the driver described as a ‘lone suspect’ known to police Canadian police arrested a man on Saturday after a car plowed into a street party in the western Canadian city of Vancouver, killing a number of people. Authorities said the incident happened shortly after 8pm in Vancouver’s Sunset on Fraser neighborhood as members of the Filipino community gathered to celebrate Lapu Lapu Day. The festival, which commemorates a Filipino anti-colonial leader from the 16th century, falls this year on the weekend before Canada’s election. A 30-year-old local man was arrested at the scene, Vancouver police wrote on X. The driver was a “lone suspect” known to police, a police spokesperson told journalists at the
North Korean leader Kim Jong-un has unveiled a new naval destroyer, claiming it as a significant advancement toward his goal of expanding the operational range and preemptive strike capabilities of his nuclear-armed military, state media said yesterday. North Korea’s state-run Korean Central News Agency (KCNA) said Kim attended the launching ceremony for the 5,000-tonne warship on Friday at the western port of Nampo. Kim framed the arms buildup as a response to perceived threats from the US and its allies in Asia, who have been expanding joint military exercises amid rising tensions over the North’s nuclear program. He added that the acquisition
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