Willkens Says Private Sector Interaction Key to Achieving Bank’s Overall
“With the shift in the World Bank’s relative importance given the abundance of capital liquidity around the globe, it is in the Bank’s own interest to find new flexible ways of working with others, including the private sector,” Willkens stated in remarks delivered on behalf of both the NFTC and DFI. “The World Bank should better recognize that the private sector is both a key stakeholder and enabler of sound economic development. It should incorporate the private sector into its planning and operations.”
For example, Willkens noted that many successful
In addition to working more strategically with the private sector, Willkens also highlighted the need for the Bank to reform and fortify its internal policies. “The Bank should push forward with critical initiatives on governance and anti-corruption. It should strengthen its role in promoting accountable and transparent practices, especially in procurement, which is an area that is most susceptible to corruption on both the demand and supply side,” Willkens stated.
“The private sector from the
In early June, the NFTC joined six other leading trade associations in urging the Bank to allow feedback from the private sector regarding its newest proposal for changes in procurement polices. The World Bank’s “Use of Country Systems in Bank Supported Operations” Status Report dated May 8, 2007, was released to the Bank’s Executive Directors in June without any opportunity for the private sector to review and provide input.
Willkens concluded, “The challenges facing the World Bank are many as the institution defines its changing role. The private sector is committed to working with the Bank in constructive approaches to the development challenges and opportunities before us.”
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Advancing Global Commerce for Over 90 Years
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in