World Development Bank

W e l c o m e T o W o r l d D e v e l o p m e n t B a n k

The advent of new millennium has brought a lots of constrains in global economy. To get a sustainable economic growth around the world is conditioned by the combination of labour, resources and high prolific management skills. Realistically, every country does not poses, all sorts of resources it needs.

WDB realises that democracy, development and world peace are largely depend on the empowerment of common people in the LDC and DC. It can easily be seen that franchise right is not the ultimate way to express the common people’s voice to have their fundamental rights. In the LDC and DC, the common ordinary people are influenced by the people of privileged section of the society, while exercising their franchise right. Getting way from it, can only be possible making them empowered. A person can be empowered only when the person finds himself or herself in the process of earning. An earning capable person has more access to the all fundamental needs. In the twenty first century rather waiting for the government to provide all fundamental needs, would be better off providing those needs through the private initiatives, where government should be a regulatory authority to facilitate a concomitant environment, accordingly this would reduce the public expenditures and corruptions.

Common ordinary people lives in Developed Countries, Developing Countries or Least Developed Countries have in common is poverty. Poverty has got its deferent aspect among the countries. Like the poverty state in developed countries is the luxury in the LDC and DC, and people of those countries expectation is, just to be there. One of the problems for the developed countries is the diminishing of core labour forces and switching to service economy from the production economy, over the time span this would distort the standard proportion of import expenditures and the revenue from the export.
World economy has become an unilateral process, the way China, India and Brazil’s economy are booming the disparity in wealth allocation within the people in those countries have not lessened to that extent, rather the gap is increased. Thus, a large number of population remain un-capable of purchasing goods to meet their basic needs, so as other third world countries.

Public-sectors investment in Least Developed Countries and Developing Countries are very low due to their large number of unemployed population; thus, they are unable to contribute to the national revenue. More over those countries are encumbered with debt to the donor countries and other international organisations. Considering, the present state of situation, it is become inevitable to change the financial assistance pattern to the LDC and DC.
World Development Bank would take part in public-sector investment project in the Least Developed Countries and Developing Countries to pave the way a productive atmosphere in those countries.

Subbir H Sikder

Chairman & CEO

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