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Private Sector

News

Confusion about WB private sector review

15 March 1999

Government officials who negotiated contributions to the Bank’s IDA 12 lending window agreed with the Bank that “a clear private sector development strategy should be established for the World bank Group during the course of 1999 to guide the work of the IBRD, IDA, IFC and MIGA“. Deputies expressed concern that papers produced for them did not amount to a strategy and would result in “inefficiency and duplication of effort”.

This review should be started by Mr Woicke, who recently left his post as chairman of J.P. Morgan Securities Asia to become Executive Vice President of IFC and Managing Director of the Bank. A Bank spokesperson told the Bretton Woods Project in January, however, that they were not aware of any plans for a major review, but thought the IDA Deputies’s request would be dealt with by “a series of incremental improvements in the way we are collectively organized and operate so that better and more rational delivery of finance and services can be achieved.” The Bretton Woods Project and others are working to clarify this.