Tag: World Bank

Olympics Features: Istanbul 2020: World Bank confirms strength of Turkish economy

LAURA WALDEN / Sports Features Communications

(SFC) A senior official at the World Bank praised Turkey’s economic performance in these past years giving a boost to the nation’s economic outlook and reinforcing the bid.

Martin Raiser, the country director for Turkey at the World Bank, spoke in Washington this past week affirming that Turkey has been performing wonderfully since the latest global economic crisis. He also feels that that the country is likely to reach high-income status within the next three years because of its young demographic.

Their desire to host the Games would set off a huge rise in mass sport participation, particularly among the Turkey’s 31 million people under the age of 25. This vision emerges from a stellar decade of economic history.

Raiser said, “Social inclusion is increasing in Turkey mainly thanks to the spread of economic activities.” He was speaking at an event organized by the Turkish Industry & Business Association (TÜSİAD), Koç University and the Economic Research Foundation (ERF) where he highlighted that the significant investment in infrastructure and public services that has been made has energised Turkey’s substantial economic growth.

Speaking from the Sport For All Congress, Hasan Arat, Chairman of Istanbul 2020, was thrilled at the news. He said,”This is a welcome endorsement from the World Bank in that it supports the message that we are explaining to the Olympic Movement.

“Turkey’s financial strength ensures that Istanbul 2020 is in a position to deliver a technically excellent Games which will realise the potential of Turkey and the surrounding region’s young people. The government is investing $2.5 billion in 693 sports facilities and 25 new stadia as well as $500 million annually into sports participation and development programmes, regardless of whether Istanbul are awarded the Games.

“This investment will engage the entire nation, making sport more accessible to Turkey’s 31 million young people under the age of 25.”

Ugur Erdener, IOC member and President of the NOC of Turkey, noted on the investment in facilities, “The huge investment into sports infrastructure will benefit all levels of sport participation in Turkey. The National Olympic Training Centre, which is being built this year regardless of the bid outcome, will serve as both an elite and recreational sport resource.

“The Olympic City will serve 600,000 people as a “live, work, play” community. These world-class facilities will create a generation of opportunities for the region’s young people to participate in sport from grass roots, through to elite level.”

Istanbul is bidding against Tokyo and Madrid to host the summer Games and the final decision will be taken on September 7th at the IOC session in Buenos Aires, Argentina.

via Olympics Features: Istanbul 2020: World Bank confirms strength of Turkish economy.

April 30, 2013
Poll: who should be the next World Bank president?

The US has monopolised the Bank presidency since 1944, but leadership selection at the International Financial Institutions is becoming increasingly contested. There have been repeated promises by the Bank to open up the process and select candidates based on merit, in a fair and transparent way. As developing countries become increasingly confident and assertive this could be the year that sees the emergence of a real challenge against the US hold over the position.But who would the credible candidates be? Below are nine heavy-weight possible candidates from developing countries. Who do you think would be the best for the job?Who should be the next World Bank president?

via Poll: who should be the next World Bank president? | World Bank President.

February 17, 2012
Turkey is doing much better as against 10 years ago

Robert Zoellick

World Bank President Robert Zoellick said Turkish economy is in a better shape when compared to 10 years ago.

World Bank Chief Robert Zoellick held a news conference in Istanbul to evaluate the items on his agenda, after having received by President Abdullah Gul and Prime Minister Recep Tayyip Erdogan.

Expressing condolences to the families of terror victims, World Bank director Zoellick said Turkey is doing much better as against 10 years ago.

“If I were in Turkey 10 years ago, we would have been talking about Turkey’s relations with the European Union. But today, we are discussing its economic relations with Central Asia and Africa. Turkey has established a broad-based and international network. It has a stronger and more durable domestic economy,” he said.

Turkey is a developing country, therefore its current account deficit is understandable, Zoellick said, adding that as the World Bank they support the government’s efforts in this regard.

via News.Az – Turkey is doing much better as against 10 years ago – WB chief.

July 24, 2011
(ECO) NEW GLOBAL ORDER SHOULD BE ‘RESPONSIBLE GLOBALIZATION’, ZOELLICK

World Bank Group President, Robert Zoellick,
said Tuesday the new global order should be “responsible globalization”.
Speaking at the inauguration of the annual meetings of IMF and World Bank in Istanbul, Zoellick said that international institutions and countries should work for a globalization that is accountable. As a result of the global crisis, more than 59 million individuals will lose jobs. Up to 50,000 babies may die in the least developed regions of Africa, Zoellick stressed.
The whole humanity calls on us not to permit a global crisis again in the
future, Zoellick said.

AA

October 6, 2009
World Bank warns of social unrest

The head of the World Bank has warned that the global economic crisis could lead to serious social upheaval.

“If we do no take measures, there is a risk of a serious human and social crisis with very serious political implications,” Robert Zoellick said.

He pointed to Eastern Europe, which faces the “tricky situation” of fast-shrinking economies and protests.

Mr Zoellick suggested governments should start preparing for high levels of unemployment.

“In my opinion, in this context, nobody really knows what is going to happen and the best one can do is be ready for any eventuality,” Mr Zoellick said in an interview with Spain’s El Pais newspaper.

“There is also what I call the ‘X-factor’, that one can not foresee,” such as the recent outbreak of swine flu, he said.

“Latin America has remained reasonably stable, even if Mexico and Central America are under pressure because they rely a lot on the North American market,” Mr Zoellick added.

It was reported last week that Mexico’s economy shrank by 8.2% in the first three months of this year compared with a year earlier. Mexico sends 80% of its exports to the US.

Other economies in Eastern Europe have registered double-digit declines in GDP, such as Latvia and Estonia, while the retiring Bank of England rate-setter David Blanchflower has said at least one million more people in the UK will lose their jobs. The World Bank has previously warned of a “human catastrophe” in the world’s poorest countries unless more is done to tackle the global economic crisis.

It said an extra 53 million people are at risk of extreme poverty.

BBC

May 25, 2009