World Bank chief to visit Brazil

14:43, May 28, 2011      

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World Bank Group President Robert B. Zoellick will visit Brazil next week to broaden the Bank 's strategic partnership with Brazil in the context of the country 's growing role in global issues and international development, according to a statement released here on Friday.

From May 31 to June 3, Zoellick is scheduled to meet with Brazilian President Dilma Rousseff, Finance Minister Guido Mantega and governors of several states. This will be the first official meeting between the Bank's leader and President Rousseff, who took office on Jan. 1, 2011.

"Brazil has already identified many of the challenges of providing opportunity and protecting its most vulnerable people and has an impressive track record of results," said Zoellick. " Yet we know Brazil has many poor people who need assistance with education, health and job opportunities. At the same time Brazil can share its development experience with the world. We look forward to deepening our partnership and working together to share Brazil's learning with others."

In the last decade, Brazil has raised more than 20 million people from poverty and laid strong economic foundations for growth and crisis resilience. The World Bank has been a partner in these efforts and Brazil is one of the top World Bank Group clients, said the Washington-based international financial institution.

The World Bank said that it has reached an agreement with Brazil recently for the prepayment of 3.1 billion U.S. dollars of the country's debt. This effort of the Brazilian federal government will allow the continued support of the World Bank for the development programs of the states, as the country approaches the Bank's single borrower limit of 16.5 billion dollars.

"We have a strong partnership with Brazil, as this latest agreement clearly demonstrates," Zoellick said. "It reflects Brazil's desire that the Bank continues to help address key development challenges, now working with a number of Brazil's state governments that are strengthening capacity to be at the forefront of development."

Source: Xinhua
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