A detailed and personal retrospective and history of the World Bank. A review of some of the major changes that have taken place in the world over the last 15 years, the paramount one being the population increase. The World Bank since 1948 when the speaker became Director of the Loan Department. His arrival coincident with the beginning of a period of transition for the World Bank. Many milestones in the development of the Bank. Figures and details of development loans. The Department of Technical Assistance, set up in 1952, with examples of its operation. The Bank's involvements in political negotiations and disputes, with examples. Problems with development financing. The International Finance Corporation as an affiliate of the Bank, set up in 1956. The growing pace of world developments and the problems that brings to the World Bank. The increasing inability of developing nations to keep up with payments. The establishment of the International Development Association (IDA). How the IDA and IDA credits work. The need for a firm decision by the "rich" countries to the "poor" countries. The widening gap between rich and poor. The need to find means to narrow this international gap as the most urgent and challenging problem facing this generation and new generations to come.
The speeches are free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.