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Prospects for Aid

Prospects for Aid WHATEVER ELSE one may say about the World Bank, it cannot be denied that of all the international institutions which have proliferated in recent years, the Bank displays the most intelligent concern for the development of the poorer countries. It need not have been so; the Bank could have adopted a passive role after post-war reconstruction. But the needs of the developing countries have given the Bank a new role as a powerful intermediary between the developed and the developing nations. In India, we may resent the Bank's pressure for devaluing the rupee, but equally one should commend the unequivocal speech of its President, George Woods, to the recent Ministerial Meeting of the Development Assistance Committee of the O E C D. He told the O E C D countries that the degree of assistance they are providing "is inadequate by any reasonable standard

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