Announcement of Shanghai Conference Unveils Agenda for Large Scale Poverty Reduction on May 27, 2004

Shanghai Conference Unveils Agenda For Large Scale Poverty Reduction Contacts in Shanghai: Sunetra Puri : 13681727991 spuri1@worldbank.org Carl Hanlon : 13681864017 chanlon@worldbank.org Li Li : 13501258056 lli2@worldbank.org SHANGHAI, May 27, 2004 – At the conclusion of a unique conference on poverty reduction Thursday, World Bank President James D. Wolfensohn said it is clear that the global community has the knowledge and resources to meet the Millennium Development Goals on poverty reduction, but that action is needed to deliver better lives for the world’s poor. Wolfensohn said in his closing remarks that it is imperative for rich and poor countries to redouble their efforts to speed poverty reduction and stimulate economic growth, steps that would do much to bring peace and stability to the world. Invoking the ‘Spirit of Shanghai’ – a renewed commitment to the global fight against poverty – Wolfensohn noted that the lessons learned from the extensive research and exchange of knowledge surrounding the two-day conference shows that it is possible to achieve major reductions in poverty. “This process tells us that scaling-up is possible when countries have the right ideas, support to implement them, and an environment conducive to long-term management and implementation. This is how they get results,” Wolfensohn said. The World Bank President said that while there is no one-size fits all solution to reducing poverty, the conference has revealed that large-scale poverty reduction depends on several key factors, including: · Poor people as agents of change, and assets for development solutions; · Sustained political commitment and visionary leadership, with continuity over time; · Transparency and accountability to cut corruption; · Continuous exchange of knowledge, and practical ideas on how to achieve large scale results; · Consistent management, innovation, learning, and flexibility to adapt to changes, and; · Partnership between all stakeholders Wolfensohn also pointed to China as an example of scaling up the fight against poverty and sharing the lessons learned. In two decades China has lifted more than 300 million people out of poverty. Hui Liangyu, China’s Vice Premier, announced $20 million for a special Fund for Poverty Reduction and Regional Cooperation to fight poverty in the Asian-Pacific Region. China is also forming a partnership with the United Nations Development Program to establish an International Center for Poverty Reduction. Vice Premier Hui called on developed countries “to increase their assistance to their developing counterparts, expand trade ties ,and mutual investments and actively pursue new types of North-South cooperation. China will exert its utmost efforts in gradually increasing its development assistance for the poor countries.” While the way forward is clear, Wolfensohn said, it is clear progress will not come easily. “Achieving the Millennium Development Goals will depend not only on increasing resources but also on a renewed commitment to adapt and accelerate implementation of successful approaches across and within countries,” he said. More than 1,000 people – mostly from developing countries – participated in the Shanghai event, including heads of state, and representatives from the private sector and civil society. They analyzed more than 100 case studies, sharing knowledge and practical experiences that shed more light into what works, what does not, and the reasons behind success and failure in large scale poverty reduction. Wolfensohn says the spirit generated at the Shanghai conference should inspire rich countries to intensify assistance to their counterparts that are yet to benefit from the recent global wave of progress in economic and social development. “The learning process that has surrounded this conference is not an end but the beginning of a new way of understanding development through the continuous sharing of knowledge, ideas, and experiences among all developing countries,” Wolfensohn said. For more information go to www.reducingpoverty.org