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In the Annual Meeting of the World Bank Group – Steps Significant for Lithuania

Date

2007 10 17

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Vilnius, 17 October. On 18-22 October 2007 the Minister of Finance of Lithuania Rimantas Šadžius will participate in the Annual Meeting of the Boards of Governors of the World Bank Group (WB) and the International Monetary Fund (IMF) in Washington D.C., where important global development issues will be discussed. During the meeting Mr. R. Šadžius will make a statement on behalf of the Bank’s Baltic Group on the role of Lithuania, Latvia and Estonia in the activities of the World Bank Group, and will present Lithuania’s application to the International Development Association (IDA) for its membership in IDA.

This year’s meeting of the Boards of Governors of the WB and the IMF is the first meeting to be chaired  by the new President of the World Bank Group Robert B. Zoellick. At the meeting Mr. R.B. Zoellick will present his own vision of the World Bank’s activities and that of the Bank, which envisages, first of all, to focus the greatest attention to the promotion of development of the poorest countries. Mr. R. Zoellick proposes to implement a greater number of programmes in the middle income countries, and to participate in solving global problems even more actively. The new President of the World Bank proposes to also focus on the importance of immediate aid in reconstruction of countries that suffered from conflicts. One more Strategy proposed by the World Bank, is the creation of favourable environment for local and foreign business in the Near East. Besides, The Word Bank’s financial and performance reports as well as  the Bank’s administrative budget for the fiscal year 2008 will be also presented during the meeting.

On 18 October the Minister R. Šadžius will meet with the Vice President of the World Bank Phillippe Le Houreou, responsible for the issues of the International Development Association, and will present the application for the membership of Lithuania in IDA. The membership in this organisation would be a signal that Lithuania is an active member of the international community and a supporter of developmental cooperation.

On 22 October at the Annual Meeting of the Boards of Governors of the World Bank Group (WB) and the International Monetary Fund (IMF) Mr. R. Šadžius will make a statement on behalf of the Bank’s Baltic Group. It is planned that the statement will present the progress of the Baltic States and the change of the status from the World Bank’s recipient countries to donor countries, and it will also express the view of the Baltic States towards strategic issues identified by the new President of the World Bank R. Zoellick.

During the the Annual Meeting of the Boards of Governors of the WB and the IMF the Minister of Finance of Lithuania will also have meetings with Shigeo Katsu, the World Bank Vice President for Europe and Central Asia, Oscar de Bruyn Kops, the World Bank Country Manager for Poland and the Baltic States, and other executive managers and representatives of financial institutions during which further cooperation between Lithuania and the World Bank will be considered. Moreover, the meetings of the Minister R. Šadžius and representatives of the IMF and executive managers of investment banks will also take place, where the economic situation of Lithuania will be reviewed.

The meeting of representatives of the Nordic- Baltic countries is scheduled for 20 October, where it is planned to discuss the issues and positions of the Development Committee. On 21 October the delegation of Lithuania will participate in the meeting of the Development Committee of the World Bank, where the World Bank’s strategic guidelines will be presented.

 

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