1/10/2004
Development Committee of World Bank

The Development Committee meeting of the World Bank and International Monetary Fund will take place in Washington on October 1 and 2, 2004.

The agenda includes the examination of a report on the effectiveness of aid and development financing, which looks at the question of innovative financing for development, the British initiative for an international financing facility and international taxes in light of proposals made by the working group chaired by French Inspector of Finances Jean-Pierre Landau on new international financial contributions.

The Development Committee, essentially a political steering committee for development aid at the Bretton Woods institutions, will meet on October 2.

The aim of these high-level consultations is specifically to strengthen the process for realizing the Millenium Goals, based on additional sources of financing such as those proposed by the quadripartite group (France, Brazil, Chile, Spain), and the Landau report. The discussions are part of the preparation for the summit of heads of state and government to be held in September 2005, which will study progress in implementing the Millenium Declaration.