IEG Sez Bank Programs Not Very Helpful in Tackling Poverty

Despite an intensified campaign against poverty, World Bank programs have failed to lift incomes in many poor countries over the past decade, leaving tens of millions of people suffering stagnating or declining living standards, according to a report released Thursday by the bank's autonomous assessment arm.

Among 25 poor countries probed in detail by the bank's Independent Evaluation Group, only 11 experienced reductions in poverty from the mid-1990s to the early 2000s, while 14 had the same or worsening rates over that term. The group said the sample was representative of the global picture.

"Achievement of sustained increases in per capita income, essential for poverty reduction, continues to elude a considerable number of countries," the report declared, singling out programs aimed at the rural poor as particularly ineffective. Roughly half of such efforts from 2001 to 2005 "did not lead to satisfactory results."...

The study emphasized that economic growth is, by itself, no fix: How the gains are distributed is just as important.

Overall, from 1990 to 2002, the percentage of the world's people who subsist on less than $1 per day declined from 28 to 19, according to World Bank research. But officials with the evaluation group noted that much of the advance was registered in China, which has rejected many of the tenets of the development model advocated by the West and barely relied on the largesse of the World Bank....

Doo doo dee la la la.... Living in DC, I happen to know that plenty of individual's incomes have risen dramatically through their work with the World Bank and the other large development organizations, thank you very much. The World Bank and IMF should fund education programs that train the poor to become economists.