James Wolfensohn made a very compelling case that development and the Bank's mission to end poverty is an issue for business.

Pareto's law applies - richest 20% of world's population receive more than 80% of the global income
To-day: global population: 6 billion - 1.2billion in developed world; 4.8 billion developing. By 2025 - 8 billion - and all but 50 million of that growth will be in developing world.
By 2025 there will be 500 cities of more than one million people - maybe 40-50 of 10million
1.2 billion live on less than one dollar per day - and 2.8billion on less than 2 dollars per day.

"the issue of poverty is an issue of peace?.can't guarantee the security of your business unless we deal with the issues of development?self-interest and social responsibility?opportunity not charity"

"will business join with governments and civil society in time ie to-day? The difficulty is you can't see it to-day?these are real issues that demand leadership not just from people in government but from people in business?"

Over 1990s -

public investment to developing world fallen from $60 to $50 billion private investment to developing world has risen from $30 to $300 billion ie from half to six times public investment.

James Wolfensohn called for a "change of orientation in thinking" one world not two inequity produces insecurity can't leave to your successors think outside the box about the potential of information and communications technologies.

Particularly interesting on ICT and World Bank / development - Bank itself runs 800 internal video-conferences each month.

Every Saturday morning, 2000 mayors across seven Latin American countries have a three hour live hook-up for training from the Monterey Institute - and this is followed up with mentoring and peer group learning via the Internet.

Bank has encouraged schools in developed / developing world to twin via the Internet. And is supporting the African virtual university- 14 French speaking African countries with University of Montreal for degree-level courses etc.

(From previous Wolfensohn speech distributed at the breakfast:

"The information and communications revolution offers us an unprecedented opportunity to make empowerment and participation a reality. And poor people across the world are demanding action. In response to our "Voices of the Poor" study, many groups have asked us as a key priority, for increased access to information and communications technologies.

We must work toward the day when, through the Internet, through distance learning, through cellular phones and windup radios, the village elder or the aspiring student will have access to the same information as the finance minister.

Communications technology gives us the tool for true participation. This is levelling the playing field. This is real equity." - Wolfensohn to the annual meeting of World Bank and IMF, Prague, September 2000)