World Bank president Robert Zoellick told Emerging
Markets last night he is optimistic about the
chances of putting together a coalition of traditional and new
donors for replenishment of the banks concessional
lending arm, the International Development Association
Zoellick said he is in discussions aimed at securing
contributions from traditional and non-traditional donors, and
also urging IDA borrowers who have graduated from
eligibility for new loans to accelerate repayment of existing
In a time of budget cuts, we are working hard to build
a global coalition to share the burden of this
replenishment, Zoellick said earlier in a statement
issued after yesterdays meeting of the joint World Bank
and IMF Development Committee.
We are not just asking traditional donors to carry the
load. We are asking former IDA beneficiaries to accelerate
payments; we are asking IDA recipients that are close to
graduating out of the programme to pay a bit more; we are
asking emerging donors to contribute, to reflect their growing
weight; and we are looking to mobilise our own
Officials responsible for organising the IDA replenishment,
known as IDA16, will meet in Washington on Monday and Tuesday.
But Zoellick emphasized that this will not be a pledging
sessionand added that we will be asking donors to
do this by the end of this year.
With fiscal spending being tightened in some advanced
economies, there are fears that aid, contributions to IDA,
could suffer as a consequence.
African countries cheered the Banks decision to assign
a third seat on its 25-member board to a representative from
Renosi Mokate, a former deputy Governor of the South African
reserve bank, will join the board of the World Bank at the
beginning of next month.
We have secured the position of the third seat on the
executive board. We spent about three years trying to
reconfigure ourselves, and finally in Freetown this year we
concluded and we now have a third seat. South Africa, Angola
and Nigeria represents one seat.
Uhuru Kenyatta, Kenyas deputy prime minister and
minister of finance, said: What is required now if for
all of us to work together.
He said Africa will not necessarily seek more loans as a
result of greater voting power. There is a distinction
between voice representation and resources allocation. The
[additional] voice on the board just helps to strengthen
In the IMF we want to push it [too]. We now have a
second alternate. We are asking them to start considering a
third chair. We have convergence between the two [IMF and World
Bank] It would be nice really. One representative for 20
countries is too much. We hope the IMF will be pushing for an
average of 15, he said.