World Bank's development efforts hailed

Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa lauded progress in implementing the World Bank's development strategies. He hailed the intensified efforts being exerted to carry out the bank's strategy towards management, fighting corruption, providing further interaction with countries with medium revenues and concentrating on international and regional commodities.

He also hailed the post-conference blueprint on climate change organised by the UN in Bali, Indonesia, in December, and the formation of a stronger and more diversified executive management team for the bank.

This came in a statement read out by the Finance Minister on behalf of Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, the Maldives, Oman, Qatar, Syria, the UAE and Yemen during the 77th session of the World Bank and the International Monetary Fund's development committee held at the bank's headquarters in Washington.

Shaikh Ahmed also expressed in his speech the Arab countries' aspirations for further consultations and co-operation with the World Bank to crystallise goals regarding the whole region and adapting them to the countries' different needs.

Shaikh Ahmed also underlined the need to fathom the efficiency of the general structure of international aids and enhance statistic capabilities of developing countries.

Successful economic policies, positive investment climate and good management are a boost to sustainable development, the minister pointed out.

Source: http://www.gulf-daily-news.com