Bangladesh: Nobel Laureate Yunus blames World Bank for poverty

Click here: IINA – Nobel Laureate Yunus blames World Bank for poverty

Nobel Peace Prize laureate Muhammad Yunus told the head of the World Bank yesterday its failure to modernize anti-poverty lending programs. “The World Bank was created nearly 60 years ago. In this 60 years the world has changed a lot, but the World Bank has not changed its style”, Yunus said after meeting new World Bank President Robert Zoellick, who is visiting Bangladesh to review lending programs. “It was created to eradicate poverty. It cannot achieve the objectives for which it was created,” Yunus said. “I’ve told them that you’ve forgotten the people. If you cannot involve the people in your work, poverty won’t be reduced.”

…“Its country offices sit like a post office. They wait for the orders from the headquarters. I’ve said they could be given independence or be made a fully self-governed body,” he said. The World Bank in Dhaka said it has pledged to spend as much as $3 billion in loans and other funds for anti-poverty programs in Bangladesh between 2006 and 2009.

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