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Thursday, 1 September 1994
Page: 753

Senator SPINDLER —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)notes that assessment of the performance of the World Bank against international best practice is demanded by the principle of accountability for public funds and is consistent with modern approaches to public sector management;

  (b)recognises that the World Bank appears to promote dependency on its services by pursuing policies which lead to a drain of economic value from poor countries to the richer countries through interest payments and that dependency on further external finance so generated undermines self-determination of the development process and self-management of the environmental and social impact; and

  (c)calls on the Government:

    (i)to lead an international initiative to get the World Bank to change its role from making loans to teaching countries how to finance their economic and social development from their own resources, and

    (ii)to seek support from member countries of the World Bank to compare, through performance audits, the economic, social and environmental impact of World Bank programs against the impact of locally-owned and controlled domestic self-financing institutions such as the Grameen Bank in Bangladesh and the Caja Laboral Popular in Spain.