the task of maintaining an equitable representation of shareholders over time and will strengthen the ibrd legitimacy as a global player. the formula should reflect global economic weights and the contributions to the bank ’ s development mission. rewarding support to this mission is essential to building up adequate incentives for future contributions. any discussion of future resource needs to be preceded by a thorough conversation on the future positioning of the bretton woods institutions. a long - term vision of the role of multilateral financial institutions – and of the wbg in particular – needs to take into account the importance of engaging in the financing of global public goods and the benefits of cross - border integration. this requires the promotion of regional cooperation efforts. we should at the same time recognize that official development assistance represents only a small portion of global financial flows for development. the role of the wbg in enhancing the use of domestic resources – through technical assistance – should be intensified, and ifc and miga should bis central bankers ’ speeches strengthen their efforts to catalyze private sector capital into development projects. the time is ripe for updating the ida financing model. 3. a partner in climate change financing as we approach the cop21 meeting in paris, where decisions need to be taken to step up international action on climate change, we envision an important role of the wbg as a key partner in both promoting the transition to a “ greener ” economy and alleviating the impact of climate change on developing countries. this effort requires financial resources that largely exceed those available to development institutions and calls for combining limited public resources with larger private sources of capital. the wbg is strategically positioned to contribute to this effort. the problem of climate change falls in the domain of global public goods and posits complex intergenerational questions. as a global financial organization, the world bank is well - suited to address both these issues. furthermore, as a multi sector development agency, the bank should make use of its expertise in a broad array of policy areas to provide sound evidence that climate - smart projects are good development projects. 4. a sustainable development organization we welcome the substantial increase in wbg commitments. it is now time to deliver with an effective implementation of wbg projects. large, transformative development solutions require a focus on results and appropriate fiduciary and safeguards policies to manage risks. the ibrd should focus on financing long - term structural projects, even if the shift toward investment lending is likely to reduce the growth of the ibrd

ashraf mahmood wathra : the importance of financial inclusion in pakistan speech by mr ashraf mahmood wathra, as acting governor of the state bank of pakistan, at the bank alfalah mobile commerce conference 2014, karachi, 13 march 2014. * * * assalam - o - aalaikum and good morning it is my great pleasure to join you at the international conference & exhibition on mobile commerce in pakistan, and share with you some of my thoughts on this important subject. i must congratulate the organizers and sponsors for their efforts in bringing together the stakeholders of mobile banking eco - system at one platform. being a regulator of banking sector, sbp believes that financial exclusion is hindering our fellow citizens in availing economic and business opportunities. today, there are an estimated 2. 5 billion adult people worldwide who do not have access to formal financial services. according to world bank ’ s global findex survey, almost 80 percent of those living within incomes of less than $ 2 per day are financially excluded. pakistan is a country of over 180 million people living in geographically diverse areas. our branch network of almost 12, 700 is insufficient to serve the millions of unbanked masses. banks operating in pakistan are hosting only 35 million customer accounts including 3. 5 million accounts opened by branchless banking providers. despite phenomenal spread of banking business in pakistan, we have a long way to go to achieve digital financial inclusion in the country. given the complexities and challenges of limited financial access in the country, state bank of pakistan has adopted a multi - pronged and long - term strategy to address financial exclusion through structured policy & regulatory actions, and market - development interventions. our program initiatives have been catalysing the market developments and fostering market ecosystem to especially promote innovative ways of doing banking business. as we all know that people around the world increasingly use technology and communication networks to live, work, socialize and remain informed and entertained through the use of online services via personal devices like pcs, smartphones and computer tablets. therefore online and other - off - branch modes of doing banking transactions have reduced the hassle of visiting a conventional bank branch to a considerable extent. ladies & gentlemen, pakistan is amongst the pioneers of mobile / branchless banking in the developing world. our branchless banking framework and models have achieved worldwide recognition and remarkable success in a short span of four and a half years. this could not have been possible without an effective and enabling regulatory regime, dynamic