Record pledges of $1.5 billion to UN towards Tsuanami aid
United Nations: The United Nations has received a record $1.5 billion by way of pledges for donations in a week after the devastating tsunami waves on December 26. The UN says that this number surpasses donations made for the entire last year.

UN Secretary-General Kofi Annan has simultaneously urged the international donor community to keep their pledges.

At a press conference in New York, Annan said, "If we go by past history, I do have concerns. We have lots of pledges, but it is quite likely that at the end of the day we may not receive all of it," said Annan.

Citing the 2003 earthquake in Iran's Bam region, he said: "We got lots of pledges, but we did not receive all the money. And we have had similar experiences earlier as well."
Back to News Review index page  

US hunts for new World Bank chief
Washington: The US Treasury Department has said that the United States was starting to talk to other countries that are shareholders in the 184-nation development bank, by way of looking for a successor to World Bank President James Wolfensohn whose term expires on June 1.

The process, a department spokesman said, will be "open, transparent and collaborative."

Wolfensohn, 71, had said he anticipated bowing out in 2005 and not serving a third five-year term. "I've had 10 years, and I think that's probably enough. But if the need is there, I'll do whatever the shareholders want," he said. "My understanding and my belief is that probably during the course of this year, I'll give over to someone else."

As bank president since June 1, 1995, he has emphasised reducing poverty in developing nations, making lending projects more effective, reducing the debt of poor countries and battling corruption.
Back to News Review index page