The President of the World Bank, Mr. Paul Wolfowitz, addressed legislators of 127 countries today, on the occasion of the 115th Assembly of the Inter-Parliamentary Union. "As we meet in the heart of prosperous Europe, I think it is important that we remember there are still more than one billion people worldwide struggling to survive on less than one dollar a day. When we return to our five-star hotels this evening, many of them will go to bed sick, hungry and uncertain about their future", he said.

Before responding to questions from parliamentarians, the World Bank President welcomed the fact that the 115th IPU Assembly will be focusing on the Millennium Development Goals with a special emphasis on debt, poverty and corruption. "This is an agenda that speaks volumes of the development challenges the global community faces today. It represents some of the fundamental issues that we, in the World Bank Group, confront in our day-to-day work. Fighting the scourge of poverty is at the heart of the World Bank's mission. That is why we are deeply engaged in the international efforts to cut global poverty by half - one of the targets set by the Millennium Development Goals", he added.

But the burden of debt and the disease of corruption threaten to undermine this global effort. "Every dollar used to pay off an unsustainable debt is a dollar that can no longer be spent to help a child learn to read or write. And every dollar diverted by corruption is a dollar that won't go towards jobs, health care, and other essential services for the poor", the World Bank President went on to say.

Speaking about the cooperation between the World Bank and parliaments, Mr. Wolfowitz explained that "we would like to expand this collaboration as much as possible. Parliaments are critical in our collective fight against poverty. You as legislators play a vital role because you amplify the voices of the most silent, invisible, and poorest citizens in the halls of government. Without your work, the needs of these citizens would not be addressed in the policy-making process".

Parliaments are also indispensable in fighting corruption. "On my first official visit as President of the World Bank in the summer of last year, I was delighted to meet with a number of parliamentarians from Nigeria, who were keen on controlling corruption and promoting good governance. As we exchanged views on these matters, it became clear to me that parliaments are key to addressing corruption because they belong to the primary institution that can hold governments to account for their actions. It is therefore essential that parliaments have the necessary skills and resources to fulfil their constitutional responsibilities", said the World Bank President.

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Established in 1889 and with its Headquarters in Geneva, Switzerland, the IPU, the oldest multilateral political organisation, currently brings together 149 affiliated parliaments and seven regional assemblies as associate members. The world organisation of parliaments has an Office in New York, which acts as its Permanent Observer at the United Nations.
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Contact for additional information or interviews:

Mrs. Luisa Ballin, IPU Information Officer 5, ch. du Pommier, CH - 1218 Le Grand-Saconnex / Geneva Phone: +41 22 919 41 16 Fax: +41 22 919 41 60 E-mail: lb@mail.ipu.org or cbl@mail.ipu.org