The World Bank Director for Poverty Reduction and Economic Management for the African Region, Marcelo Giugale has said World Bank conditionalities on loans do not prevent governments from carrying out projects.
Mr. Marcelo Giugale explained that conditionalities on loans do not necessarily force projects on government because the borrower (government) might be faced with other challenges after they receive the loan and might be tempted to redirect the funds.
He noted that the so-called World Bank conditionalities are almost a colonialist idea which cannot be enforced in the new era of development.
Mr. Giugale made these statements in a video conference from his base in Washington when he interacted with some selected journalists in Accra.
He said the World Bank's goal has been shifted from development to the reduction of poverty to boost development.
He stressed that if the world is able to reduce poverty, it will be able to facilitate development.
Commenting on how the World Bank monitors funds given to developing countries, Mr. Marcelo Giugale reiterated that the World Bank has a Public Expenditure Review Council that monitors the use of funds to governments.
He pointed out that the council works hand–in-hand with various governments to ensure that the loan budgeted for the specific projects are duly on course and accounted for.
But he added that the public can complain about the misuse of funds if they suspect that they are being misappropriated.
Mr Giugale stated that if the public can reach the World Bank to complain about any misappropriation of projects in their regional offices, a panel of independent council will be formed to investigate the issue.
He stressed that the goal of the World Bank for developing countries is to achieve sustainable employment in the next five years.
He stated that when people are gainfully employed it will help reduce unemployment and poverty in the sub-region.
Secondly, he said the World Bank is focus to help deepen good governance in all the 135 countries except North Korea and Cuba who are not members of the United Nations.
Story by Samuel Mantey/Adomonline.com/Ghana
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