World Bank could 'run out of money' within 12 months The World Bank is close to 'running out of money', its president, Robert Zoellick, has disclosed.
By Edmund Conway, Economics Editor in Istanbul Published: 8:36PM BST 02 Oct 2009 World Bank president Robert Zoellick has launched a major campaign secure more funding from rich nations Photo: REUTERS The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that it faces a shortfall in what it can spare for new projects within 12 months. “By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution. Related Articles Banks and traders threatened by new international tax He conceded that such a task was likely to be extremely difficult, given the difficulties facing countries in the wake of the developed world’s biggest recession since the Second World War. Although the Bank has enough cash to fund existing projects and its day-to-day operations, the demands thrown up by the global recession have meant it may need extra capital contributions from rich nations to bolster its balance sheet if it is to satisfy such needs. Mr Zoellick, speaking at the opening of the IMF and World Bank annual meetings in Istanbul, said the Bank needed a capital increase of $3bn-$5bn, though others suspect the eventual need could be higher still. He said he hoped that its shareholders, including the UK and other leading nations, would decide on resources before its spring meeting next April. The money would be shared between the International Bank for Reconstruction and Development – the key part of the bank, which lends to poor nations – and the International Financial Corporation (IFC), which lends to companies. Mr Zoellick said: “We recognise that all countries are under budgetary strain and it is not an easy time to be asking for these things”. He said that a shortfall of cash for the IFC was a cause for particular concern, Mr Zoellick added, “because one of the issues in this recovery is the hand-off from government stimulus programs to private-sector development.” Critically, the Bank’s three-year $100bn programme, committed to last year because of the virulence of the financial and economic crisis, is expected to fall short of the eventual demand from struggling economies. The majority of the money has been spent ensuring the survival of the most vulnerable nations. WHAT RIGHTS DO THESE VIETNAMESE INVADERS HAVE TO RUN CAMBODIA IN VIOLATION OF THE 10 UN RESOLUTION? SOLUTIONS? VIETNAM INVASION & OCCUPATION OF CAMBODIA IS CONDEMNED: Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by vote of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese forces from Cambodia. Again Vietnam, has not respected the 10 UN resolutions calling Vietnam to cease her occupation of Cambodia and remove all her troops from the country. America too, she sees the Vietnamese leaders as liars expressed in this statement made by the US President Reagan. US president Reagan calls Vietnam to restore Cambodia Independence . President Reagan's address to the 43d Session of the United Nations General Assembly in New York, New York,September 26, 1988. "Mr. Secretary-General, there are new hopes for Cambodia, a nation whose freedom and independence we seek just as avidly as we sought the freedom and independence of Afghanistan. We urge the rapid removal of all Vietnamese troops ...." ALL THE VIETNAMESE INVADERS, AND ILLEGAL VIETNAMESE SETTLERS, MUST RETURN HOME, TO VIETNAM, AND RESPECT THE 10 UN RESOLUTIONS. Bury DANGER TO ALL KHMER WHEN THE KHMER LEADERS LIKE PRIME MINISTER HUN SEN GETS MARRIED TO A VIETNAMESE WIFE THE CONSEQUENCES ARE HERE. WITH A VIETNAMESE WIFE , HUN SEN FORGETS ALL KHMER SUFFERINGS . HE DOES NOT SPEAK ABOUT THIS WOMAN DEATH? Une femme enceinte décède à l'hôpital faute de soins 18-03-2009 Dans la nuit du 15 mars, une femme sur le point d'accoucher s'est vu refuser les soins d'urgence dont elle avait besoin. Son mari n'avait pas d'argent sur lui. Un proche rend un dernier hommage à la victime © Koh Santepheap Durant ces palabres, l'état de Van Yoeun empire et elle finit par décéder vers 5 heures du matin, peu après l'arrivée de médecins. HUN SEN'S VIETNAMESE WIFE FAMILY(MME BUN RANY) IN CAMBODIA PM HUN SEN AND HIS VIETNAMESE FAMILY. The HUN SEN'S VIETNAMESE Family Tree: One big happy family in Cambodia Hun Sen and his wife VIETNAMESE Bun Rany (seated) during the wedding of one of their children. http://www.atimes.com/atimes/Southeast_Asia/IC20Ae03.html20 March 2007AsiaFinest.comBy Bertil Lintner HUN SEN'S VIETNAMESE MINISTERS. 1. Acting as "Cambodia" Minister of Foreign Affairs , Hor Nam Hong has sent a Vietnamese woman, in the name Mme You Aiy , as "Cambodian" Ambassador to Thailand, not to protect Cambodian National interests, but to spy on all Cambodian in Thailand and the Khmers in Surin, Boreiram,Si Saket as well... 2. Chan Sarun( VIETNAMESE ) 3.THIS VIETNAMESE WEARING THE LABEL "CAMBODIAN" Khieu Kanharith, the minister of Information, during a press conference held on 04 January 2009. KHIEU KANHARITH , A VIETNAMESE WEARING THE LABEL"CAMBODIAN" 4. HUN SEN'S VIETNAMESE CPP/MP Chiem Yeap Radio Free Asia By San Suwit 5th March, 2009 Reported in English by Khmerization Mr. Cheam Yeap(vietnamese ) (pictured), MP from the ruling Cambodian People's Party (CPP), 5. HUN SEN'S VIETNAMESE AT INTERPOLE Cambodia, South Korea to sign oil, energy agreement PHNOM PENH, Oct. 5 (Xinhua) -- Cambodia and South Korean governments will sign an agreement of oil and energy cooperation during the two-day official visiting by South Korean President Lee Myung-bak later this month, an official said here on Monday. "Both sides will sign the agreement on seeking mines, oil, gas, and energy cooperation to push the economic development in the country," Eang Sophalleth, spokesman for Cambodian Prime Minister Hun Sen told reporters after the meeting between Cambodian Prime Minister Hun Sen and visiting Shin Jae Hyun, ambassador in charge of cooperation, natural resources and energy affairs to the South Korean President. Shin's visit is to pave the way for President Lee Myung-bak's visit in Cambodia on October 22-23. From: [email protected] To: [email protected] Subject: East Asia and Pacific Newsletter Date: Mon, 5 Oct 2009 08:50:39 -0400 October 5, 2009 FEATURE Building Back Better After a String of Natural Disasters It has been a disastrous week for many people who live in East Asia and the Pacific islands. In the aftermath of such devastation, the World Bank works with Governments and international development partners to help assess the extent of damage, cost it out and then work on a long-term reconstruction plan that is about “building back better”. Read the feature story Check out the EAP Distater Risk Management website AROUND THE REGION CAMBODIA: Responding to the Impact of the Economic Crisis, Land and Legal and Judicial Reform High on the Agenda for Government-Development Partner Meeting Senior ministers and officials from line ministries and Cambodia’s development partner community, along with representatives of civil society, came together this morning for the fifteenth Government-Development Partner Coordination Committee (GDCC) meeting. Read more CHINA: Growth through innovation : an industrial strategy for Shanghai Shanghai is the urban axis of the Yangtze River Delta’s thriving economy. Its future performance and that of a handful of other urban regions will determine China’s economic fortunes in the coming decades. Read more INDONESIA: New World Bank Financing Supports Indonesian Reforms and Infrastructure Policies Two development policy loans (DPLs) amounting to US$1 billion expected to help boost reform efforts in fiscal management, public service delivery, the investment climate and the infrastructure sector. Read more INDONESIA: World Bank Supports Indonesian Effort to Improve Quality of Health Professionals New investments worth US$77.8 million to improve accreditation and certification of health professional by helping the Indonesian government design an internationally recognized, competence-focused accreditation system applicable to all health professional schools. Read more LAO PDR: A Milestone Towards Greater Transparency in Public Procurement System The application of Standard Bidding Documents, Standard Procurement Manuals will facilitate systematic implementation of the improved legal framework for public procurement in the country. Read more LAO PDR: Poverty Reduction Fund Project profile of the Poverty Reduction Fund (PRF) which empowers the poor, women and ethnic minorities in rural villages to assess their own needs and priorities, and builds capacity for them to plan, build and manage local infrastructure in a decentralized and transparent manner. Read more MONGOLIA: Economic Value of the Upper Tuul Ecosystem, Mongolia Document reports on a study carried out by the World Bank and the Government of Mongolia which aimed to improve understanding about the economic value of the Upper Tuul ecosystem for Ulaanbaatar’s water supplies, and how this might be affected by different land and resource management options in the future. Read more PHILIPPINES: World Bank Statement Expressing Condolences to the Victims of Tropical Storm Ondoy (Ketsana) World Bank President Robert B. Zoellick wrote today to President Gloria Macapagal-Arroyo expressing sympathy for the country and sincere condolences to the families and victims of tropical storm Ondoy (Ketsana). Read more VIETNAM: Photo Exhibition Showcases Efforts to Combat Natural Disaster A photo exhibit of photo competition "Vietnam Images – Natural Disaster Proneness and Resilience" is on-going in Dien Hong Park, Hanoi. Exhibit runs from September 30th, 2009 to October 6th, 2009. Read more This newsletter was sent to you because you signed up to receive updates on the East Asia and Pacific Region. If you prefer not to receive updates in the future, please reply to this message with 'UNSUBSCRIBE' in the subject line. The blog East Asia & Pacific on the rise wants to create conversations around important development challenges facing the region, share what we at the World Bank are doing and highlight some interesting initiatives. It is maintained by various staff working on development issues in the region. Current conversations: Philippines flooding: Responding to a disaster in real time (Abhas Jha) Donate to help victims of typhoon Ketsan (Ondoy) in the Philippines - Some suggestions (Claudia Gabarain) Regional Finance Roundup: Is East Asia leading the world out of the crisis? (James Seward) Philippines: Surviving Tropical Storm Ondoy - Ketsana (Dave Llorito) Do not worry about inflation in China for now, worry about asset prices and quality (Louis Kuijs) Returning to Siberut: 30 years later, little has changed on remote Indonesian island (Tony Whitten) Health restored? Uncertainty in forecasting Thailand's economic outlook (Frederico Gil Sander) Read more Subscribe to RSS feeds Region and Country news EAP on the rise - blog EAP Flickr Photostream Follow us on Twitter @WorldBankAsia _________________________________________________________________ Hotmail: Trusted email with powerful SPAM protection. http://clk.atdmt.com/GBL/go/177141665/direct/01/ --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. This is an unmoderated forum. Please refrain from using foul language. Thank you for your understanding. Peace among us and in Cambodia. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/camdisc Learn more - http://www.cambodia.org -~----------~----~----~----~------~----~------~--~---
