WASHINGTON D.C. / ZOELLICK

The president of the World Bank says future economic growth will come from many different--and developing--countries, and global leaders and institutions must address this new reality. WORLD BANK

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:00
• Production Date: 14 April 2010
• Asset Language: Original
• Corporate Name: WORLD BANK
• Subject Topical: ECONOMIC DEVELOPMENT; FINANCING; ECONOMIC CONDITIONS
• MAMS Id: U100414e

Description

STORY: WASHINGTON D.C. / ZOELLICK
TRT: 1.00
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

LOCATION: 14 APRIL 2010, WASHINGTON D.C.

Shotlist

1. Wide shot, exterior, of Ronald Reagan building and Capitol dome
2. Med shot, Zoellick and others walking down stairs
3. SOUNDBITE (English) Robert Zoellick, President, World Bank Group:
“Poverty remains and must be addressed. Failed states remain and must be addressed. Global challenges are intensifying and must be addressed. But the manner in which we must address these issues is shifting. The outdated categorizations of first and third worlds, donor and supplicant, leader and led, no longer fit.”
4. Med shot, audience
5. SOUNDBITE (English) Robert Zoellick, President, World Bank Group:
“The World Bank is therefore seeking its first capital increase in more than 20 years. Shareholders face a decision to strengthen the Bank Group, or allow it to wane in influence, losing an effective multilateral institution and leaving it poorly resourced to cope with whatever comes next.”
6. Wide shot, Wilson Center

Storyline

Speaking to policy makers and diplomats today at the Woodrow Wilson Center in Washington D.C., World Bank President Robert Zoellick outlined what he sees as the new realities of global finance and development.

Many of the crisis points remain the same, but the way they must be addressed he says, is changing.

SOUNDBITE (English) Robert Zoellick, President, World Bank Group:
“Poverty remains and must be addressed. Failed states remain and must be addressed. Global challenges are intensifying and must be addressed. But the manner in which we must address these issues is shifting. The outdated categorizations of first and third worlds, donor and supplicant, leader and led, no longer fit.”

Zoellick described a world in which developing countries make up an ever larger share of the global economy. He pointed out that developing countries are driving the demand that is leading the world out of the financial crisis, not only China and India, but Southeast Asia, Latin America and the Middle East as well. And he says, institutions like the World Bank can help navigate change.

SOUNDBITE (English) Robert Zoellick, President, World Bank Group:
“The World Bank is therefore seeking its first capital increase in more than 20 years. Shareholders face a decision to strengthen the Bank Group, or allow it to wane in influence, losing an effective multilateral institution and leaving it poorly resourced to cope with whatever comes next.”

Zoellick argued that multilateral institutions like the World Bank are poised to help build a new multi-polar world. “We must support the rise of multiple poles of growth that can benefit all. “