The World Bank Revamping its Image

After much criticism from various quarters about its loan policy, the WB has embarked on a campaign to improve its image. According to Wray (2002:1), in a small plain-language booklet, Ten Things You Never Know about the World Bank, the much-maligned institution tackles perceptions that it is money- grabbing and unfriendly to the environment, and unilaterally imposes conditions on poor countries. For example, investment in power stations made up to 21 percent of its lending in 1980, while in 2002 it stood at seven percent. By contrast, direct support for health, nutrition, education, pensions and other social services grew from five percent in 1980 to 22 percent in 2002 (ibid.). The World Bank has also stated that it is the world's largest external funder of education, having given $31 billion in loans and credits to education projects since 1963.

The World Bank's booklet on its new image also states that the bank is the largest funder of the fight against HIV/Aids, having committed more than $1.7 billion to combating the pandemic around the world. It also stated that it spends $1 billion a year on health, nutrition and population projects in the developing world. Because poverty alleviation is still high on the development agendas of most poor nations, it is recommended in this study unit that developing countries' representatives at the WB, could argue for an increase in the World Bank's spending towards poverty alleviation in developing countries, or at least make the WB aware of the development needs of the developing countries.

The WB also stated that it has advanced the cause of debt relief through its heavily indebted poor countries initiative, launched in 1996, in terms of which 26 countries (22 of them African), are getting debt relief worth $40 billion. It also claims to have been one of the largest global funders of biodiversity projects since 1998, working with environmental organizations to protect forests and stop global warming. Wray (2002) criticizes the bank for failing, in its new booklet, to mention that rich countries are over-represented on its decision-making bodies, effectively denying poor countries a proper voice. However, the WB booklet states that the bank is listening to the people, with more than two thirds of development projects approved in the past year (Wray 2001) involving active participation by non-governmental organizations. The bank states that it has had more than 60 000 conversations with poor people in more than 60 countries, and that the bank, has learnt from these conversations that "poverty is about more than inadequate income or even human development. It is also about a lack of voice, lack of representation, vulnerability to abuse and corruption" (ibid.).