Mr. Robert S. McNamara, President of the World Bank, spoke of “absolute poverty” during his address to the Annual Meetings of the Bank and the Fund in Nairobi in 1973, as “a condition of life so degraded by disease, illiteracy, malnutrition, and squalor as to deny its victims basic human necessities.” Absolute poverty, he said, was the lot of 40 per cent of the peoples of the developing countries. There was a marked shift in emphasis in the Bank’s development policies following Mr. McNamara’s speech at Nairobi. This series of articles explains how the Bank is meeting the challenge of poverty in its member countries.
The World Bank and the world’s poorest: II: The second article in a continuing series that explains how the Bank is responding to the challenge of finding ways to reduce poverty in member countries
- International Monetary Fund. External Relations Dept.
- Published Date:
- September 1978