Monday, 19 July 2004  
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WB would assist people friendly policies - Patel

by Lionel Yodhasinghe

World Bank (WB) would not intend to impose conditions on its beneficiary countries. Instead it would provide best advice and assistance to help those Governments in their policy formulation process, said WB Vice President South Asia Region Praful Patel in Colombo on Friday.

He said that WB is satisfied with the economic policies of the present Government and waiting to see them implemented to provide further financial and other assistance to expedite them.

"Most importantly, that sustained economic reform is possible only if the policies are owned by the people of the respective countries so the bank cannot and should not impose policies on a client country. If the program is truly owned by the citizens of the particular country, and we think the policies will help achieve the country's objectives, and we then support the program, Patel said during his meeting with senior journalists.

President Chandrika Bandaranaike Kumaratunga's invitation recently to the public especially to the private sector for a dialogue on the Government's economic policies is a welcome sign where respective parties could contribute immensely to put the UPFA's development policies into sustainable and pragmatic approach, he said. Patel who arrived here to participate the WB's 50th anniversary celebration at which President Kumaratunga was the Chief Guest on Thursday met Prime Minister Mahinda Rajapakse, Opposition Leader Ranil Wickremesinghe and Foreign Minister Lakshman Kadirgamar and several key cabinet ministers to further discuss future activities by the WB in Sri Lanka.

The WB, during its 50 years of existence in Sri Lanka has provided financial assistance of nearly Rs. 300 billion for a total of 96 projects to develop energy, transport and telecommunication services, expand health, education, water and sanitation services, improving the environment for private sector growth and agricultural productivity. Patel also stressed the need of redressing the problems of the people in the outskirts where about 70 percent of the population is living. "Much of the growth in the last decade has been concentrated in and around Colombo which now produce over half the country's GDP.

Meanwhile in the rural areas, poverty has hardly declined, in the estate sector it has increased by 50 percent. Unless this problem is addressed frontally not only will the country continue to fall short of its growth potential, but also the stability of this once equitable society may be threatened, he said. Patel asked the private sector to participate in the growth sector, contribute in the regional economic integration process and claim a bigger share of the global trade. "Although the region has 40 percent of the world population, it is responsible for only 2 percent of global trade.

Furthermore, open border and sky policies are virtually non-existent, and much more emphasis has been put on developing bilateral relations than multi lateral relations with the region.

For the region to tap into its full potential in the future, there is an urgent need for the countries of South Asia to move towards much greater regional integration and cooperation.

Patel who had participated the 15th International HIV/AIDS Conference in Bangkok before he arrived in Colombo warned that Sri Lanka cannot afford to ignore risk factors and behaviours such as high mobility associated with internal and external migration of both men and women that could possibly fuel an epidemic of HIV/AIDS.

Sri Lanka must act vigorously to help prevent the potentially devastating impact of AIDS on economic growth, human development and poverty alleviation. He urged the media to play an active role especially in educating people, promote safer behaviours and chip away at the existing social stigmas.

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