WASHINGTON –Two floors above the immediate crises happening in the Specialized Agencies, the World Bank is planning long term.
The Assignment: Decrease world poverty by 3%
Due Date: 2030
The World Bank ain’t no procrastinator. Three extremely comprehensive and specific draft resolutions have been brought to the table. Although they each have a different plan for the next fifteen years to reduce poverty, they all agree on one thing: education. All resolutions contain a similar clause that promotes the expansion of education programs.
The United Kingdom, a leader in the committee, told CNN, “The World Bank has concluded that education is the key to breaking the vicious cycle of poverty across all borders…the World Bank focuses on promoting local efforts to…ensure that no family should ever believe that educating their family is ‘not worth the cost’”.
The first draft resolution, sponsored by Japan, Germany and the United Kingdom, encourages the establishment of an Integrated Youth Development Fund (IYDF), which provides incentives for organizations provide financial support to youth living in poverty. Draft resolution 1.1 also encourages using fiscal policy as a method to enhance national GDP’s and ultimately reduce poverty.
The second draft resolution, presented by India and China sightly differs in that it contains the foundation of an Antipoverty Initiative (AIA). Such a program would develop 24 representatives spanning across 12 worldwide regions, with each representative being responsible for overseeing the existing poverty programs and the establishment of new ones.
The final draft resolution strongly encourages the implementation of a three part system in the approach to poverty, and was sponsored by the United States, Russia and Canada. The first step in the system is individual evaluation of poverty statistics for every member nation of the UN. Step two in the system is to classify every nation with a color and a number. The color creates general poverty groupings among nations, whereas the number is a specific guideline to what magnitude of financial attention the nations should receive. The third step of the system is monetary distribution to nations based on their rating.
Being a Regional Body, the World Bank can pass all, or none, of the current Draft Resolutions. If any of the resolutions pass, they will be in effect for fifteen years, until 2030, at which point, the status of worldwide poverty would be re-evaluated.
