Replenishment authorizations for the World Bank's International Development Association, the Asian Development Fund

OCLC Number: (OCoLC)51463950 Subject: Development banks -- Finance. Excerpt: ...ll only foster development if those states are responsible and accountable for their actions. We need to make sure that every dollar that is getting allocated, whether it is our dollars or those from others who are part of these development banks, needs to be utilized in a way that is obviously beneficial, but you would also like to see the underlying reforms and improvements made to those countries. Now, you can say that in a broad sense, but I think it is important to have measurable results from all of these loans and all of these grants. The assumption behind many of these funding mechanisms is that if the international community would help generate more financial capital, fiscal infrastructure, and technical know-how, then the recipient countries would develop. However, I think we ought to be exploring options that would require recipient nations to meet certain attainment criteria and incrementally offer aid based on that progress. In other words, it is their incentive grants. It is not just a grant to have a good time with it and do what you would like, so long as it stays within these parameters of the purpose of the loan, but have it over several years, and I know that Mr. Taylor and I have talked about that, and that is to me a very good idea, and a proper way of putting in criteria and reform measures that will make sure that there are reforms. As part of those criteria that I think we ought to develop in evaluating nations in need of aid, it would be beneficial to include the ideas of property ownership. Reform should include encouragement for a country receiving funding to institute a fair and equal policy for, say, land ownership, intellectual property ownership for its citizens. I think land ownership or private property ownership is a source, a good basis for people caring about their business, caring about that property, and i...