This is the address to the Board ofGovernors, delivered by Mr. James D. Wolfensohn, Presidentof the World Bank. It was indicated that the developmentcommunity has confirmed the Millennium Development Goals asour framework for action. Our thinking and action must belocal, regional, and global, and we must work and acttogether. First and foremost, developing country leadershave asserted that the responsibility for the future oftheir countries is in their hands. They know that they mustdrive their development and create a constructiveenvironment to encourage growth that is equitable and justfor poor people, indeed for all people. This growth must bebased on sound social and economic policies. To create theconditions for entrepreneurship, productivity, and jobs, thedeveloping countries must invest in health and education,including early childhood education. These countries mustalso invest in effective legal and judicial systems; cleartax and regulatory frameworks implemented in approaches thatfight corruption at all levels; and strong andwell-regulated financial systems. It was also indicated thatthe Bank must focus on implementation of our promises towork toward the Millennium Development Goals. Our operationsmust become more transparent. We must support developingcountries to better build their capacity. We must act now onour promises. We must deliver on them with a sense ofurgency. This is our responsibility and our destiny.
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