Meanwhile Joseph Stiglitz has accepted a post as chairman of Wall Street investment firm Brookdale which specialises in emerging markets. This calls into question the Bank’s failure to implement a quarantine policy to guide staff considering moves to other jobs. Stiglitz will also remain a special advisor to Bank President James Wolfensohn.
Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
While the World Development Report (WDR) 2018 on education has some redeeming features, it is part of the Bank's longstanding very narrow view of education, and is silent on education financing.
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