Yunus attacks WB’s failure to cut poverty

---

Nobel laureate Muhammad Yunus Sunday blasted the World Bank (WB) for moving away from its main motto of eradicating poverty, reports bdnews24.com.
"The WB failed to eradicate poverty, which was its major objective during formation of the agency 60 years ago," Yunus told reporters after a meeting with visiting WB president Robert Zoellick at his Grameen Bank's headquarters in Mirpur.
The WB president declined to talk to reporters.
The microcredit guru who won the Nobel Peace prize in 2006 said he had asked Zoellick to carry out reforms to attain the objective of the multilateral lending agency.
Zoellick, the WB Group president, came to Dhaka Saturday on a two-day official visit. Earlier, he toured India and Pakistan.
Yunus said: "The world has witnessed so many changes over the decades, but the WB remains static."
"It is urgent to bring changes to WB policies," he said. "Conditions attached by the Bank with its lending often puzzle many countries," he said.
The Grameen Bank chairman also criticised the WB for not lending adequate money for microcredit activities.
Yunus said the WB lends $20 billion a year on an average. Less than 1 percent is given for microcredit and small entrepreneurs, which Yunus said should be at least 5.0 per cent.
He asked the WB boss to assist developing countries, including Bangladesh, in carrying out financial policy reforms.
Zoellick became the 11th president of the World Bank Group on July 1.