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The Development Committee held its 50th meeting in Washington, DC on April 27, 1995. There was one main item on the agenda: financing of infrastructure in developing countries. The Committee based its discussion on a joint issues paper, on reports prepared by the World Bank and the IMF and on other supplementary papers. The main agenda item gave the Committeee an opportunity to focus on the provision of finance for infrastructure in developing countries which have been investing an average of 4 percent of their GNP, about $200 billion a year, in infrastructure. Ministers acknowledged that the present and future demand for basic infrastructure services is unlikely to be met by current public sector methods -- characterized in many developing countries by inefficient operation, unresponsiveness to users and poor financial management. The Committee recognized that improvement will require developing countries to have more business-like management, charge realistic prices for services rendered, be more attentive to maintenance, and encourage more private sector involvement in the provision of infrastructure and in its financing. Ministers also took note of the progress on several issues which were outlined in the reports of the Managing Director of the IMF and the President of the World Bank: impact of recent trends in the world economy; resource flows and transfers; the special program of assistance for Africa; and debt strategy.

Publisher: World Bank

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