Washington, 14 April 2008 – Poverty and development

World Bank and IMF convene for their Spring Meetings
From 12 to 13 April 2008, the financial and development committees of the World Bank and the International Monetary Fund convene to discuss progress on their poverty reduction work.
Transparency International takes a closer look at the relation between poverty and corruption and the Anti-corruption Strategy of the World Bank.
What is the World Bank, what is the IMF, and how are they related to the work of TI?

The World Bank was established in 1944 in Washington D.C. as an internationally organised financial institution to support reconstruction and development. Today, the Bank focuses on poverty reduction through lending to developing countries and project implementation.

Also based in Washington D.C. and closely cooperating with the World Bank, the International Monetary Fund (IMF) aims at stabilising the world financial and economic system. The Fund offers financial and technical assistance to low-income countries.

Each spring, financial and development committees of the World Bank and the IMF hold meetings to discuss progress on their work. This year's Spring Meetings are being held on 12 and 13 April 2008 in Washington D.C. Transparency International representatives will participate in the Civil Society Policy Forum starting on 10 April 2008.
Development cooperation is particularly prone to corruption risks. The WB Governance and Anti-corruption Strategy (GAC) outlines key challenges to fighting corruption. The implementation plan promises greater opportunities for citizens and civil society to participate in decision-making on development policies and funds. At this year's Spring Meeting, TI will discuss the potentials and limitations that the WB GAC strategy and implementation plan.