The Hindu : Front Page : ‘Poverty eradication will be a major goal’

Online edition of India's National Newspaper
Monday, Oct 22, 2007
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‘Poverty eradication will be a major goal’

WASHINGTON: India on Sunday reminded the World Bank and the international community that the end of poverty is not imminent and poverty eradication would continue to remain a major goal for the financial body and the international development community.

“...private financial flows often do not flow to the regions which are lagging or the people who are the poorest. Similarly, Trust funds are often focused on particular areas and may not encompass the entire gamut of activities required for the poorest regions,” Finance Minister P. Chidambaram said.

“Both of these impact the elements of the service package that the World Bank offers. We feel that these elements would need greater focus from the Bank to ensure its continued relevance going forward,” he said in his statement to the Bank’s Development Committee.

On the Doha Round, Mr. Chidambaram said it is crucial for all countries to return to negotiations with a firm commitment to resolve the remaining issues keeping in view the interests of farmers.

“The discussions on agricultural issues must keep in view the interests of millions of subsistence farmers that cannot be equated with those of other sectors. Only a strong commitment to development and to the poor would ensure a befitting and ambitious conclusion of the Doha Round,” he said. — PTI

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