WB, Japan vow to fight poverty

Published August 9, 2007

TOKYO, Aug 8: World Bank president Robert Zoellick pledged on Wednesday to work closely with Tokyo on efforts to assist poverty stricken nations ahead of the Group of Eight summit of world leaders in Japan next year.

Zoellick, on his first tour of Asia since taking office last month, held a series of meetings with Japanese leaders including Prime Minister Shinzo Abe, Foreign Minister Taro Aso and Finance Minister Koji Omi.

Omi and Zoellick expressed their shared resolve to fight climate change and environmental degradation, according to a finance ministry official.

Japan has picked the northern hot spring resort of Toyako as the site of next year's summit of leaders from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States to highlight an environmental theme.

The former US deputy secretary of state also called on Japan to continue its support for the Bank's International Development Association (IDA), the official said.

“There are many things that the World Bank and Japan can do together,” Zoellick was quoted as telling Omi.

The World Bank chief, who replaced scandal-hit Paul Wolfowitz at the helm of the multilateral lending and poverty-fighting organisation, said he wanted to work closely with Japan to help “fragile states” such as East Timor.

Omi said Japan, the bank's second-largest investor, was interested in funding joint technological projects with developing nations.

“Joint research and development projects would also develop human resources, which are vital to economic development,” Omi was quoted as telling Zoellick.

Before coming to Japan, the former US diplomat participated in a meeting of Asia-Pacific finance ministers in Australia and visited Cambodia and Vietnam.

—AFP