The influence of James Wolfensohn, present Bank president, the assumption of many of the Bank's customary responsibilities by private industry, and the ongoing attempt to wrestle with realities of abject poverty have pointed to a possibility of change. On the other hand, economic modeling, and a deeply entrenched career management level at the Bank make change difficult. That is, even though it has much greater policy flexibility than conventional banks, its loans must still be repaid with interest. If it fails in that mission, then the World Bank will soon find itself without funds to lend out. Similarly, the Bank could commit itself to processes for fully including the people most affected in the evaluation of all projects in developing countries.
True inclusion is empowerment, going beyond the circles of government officials and engineers.
This leads to real accountability - to lenders, to borrowers, and to the poor themselves. It is also risky in two dimensions. First, there is always the risk that empowerment will create new privileged groups. Second, real empowerment might threaten the institution itself, removing power from the hands of those individuals and nations that hold it now. Put debt reduction high on our agenda.