Managing director of the World Bank Group Ngozi Okonjo-Iweala just returned from St. Petersburg, Russia, where she attended the International Economic Forum on behalf of the bank’s president Robert Zoellick. The XII International Economic Forum in St. Petersburg has become the most significant venue for the economic dialogue between Russia and the world. This year, more than 120 official delegations, including 12 heads of states and almost
8 000 representatives of international and Russian business participated in plenary sessions, workshops, and round tables. The new Russian President Dmitry Medvedev was accompanied by key members of the federal government led by First Deputy Prime Minister Igor Shuvalov, many governors of Russia’s regions, and members of the federal assembly.

In the attendance of President Medvedev, managing director of the World Bank Dr. Ngozi Okonjo-Iweala spoke at the plenary session on the topic of “National Economic Interests vs. Global Governance Institutions” and talked about the new challenges on the world’s food markets.

Managing director Ngozi’s described growing international concern about the economic and social impacts of the global food crisis and its costs to the poor people, children, and communities. She also emphasized that the private sector had an essential and a significant role to play in formulating a supply-side response.

“Food and energy prices have escalated sharply in the past several months. Growing cost of fertilizer and energy, the world’s financial problems, depleted food stocks, and the growing role of biofuels were the main reasons of the global food crisis,” said Dr. Ngozi Okonjo-Iweala. “The World Bank has called for a ‘New Deal’ for the global food policy that embraces short, medium, and long-term responses. The solution is there, and it would be an international disgrace if people did not act to make food available for the poor”. She also noted, that “food and fuel are both areas in which Russia can play a huge positive role, and we count on the Russian Federation for its support.”

The republic of Tatarstan: a long-standing partner

The president of the republic of Tatarstan Mintimer Shaimiev made a brief overview of Tatarstan’s cooperation with the World Bank.

“We have been working together for a long time,” he said. “We laid the foundation for our partnership in the difficult time of the nineties. The situation was unstable in Russia, and we learned challenging lessons on the functioning of the market economy. Thus, a number of our large projects needed assistance.” He pointed out that the World Bank did provide its help to Tatarstan, which was of particular importance during the preparation for the Kazan Millennium.

“The main thing that we have learned about education is that this is an investment for the future that, if properly done, yields high results,” said president Shaimiev. “We are currently implementing a number of projects, and count on the World Bank’s active support, especially in education. Kazan is one of the leading educational centers in the country. Many colleges are situated there. There are many schools in the villages, as well as other educational institutions in the republic. Today’s structure of education is being reformed. Adaptation for today’s conditions in the world is more than necessary now.”

Managing director Dr. Okonjo-Iweala thanked Mintimer Shaimiev for the opportunity to meet personally: “Together with you we learned a lot. Tatarstan has become one of the most developed regions in the country. It has significant economic and technical potential.  We are ready to support you to overcome the challenges ahead.”

St. Petersburg: infrastructure and beyond

Managing director Dr. Ngozi Okonjo-Iweala met with the governor of the city of St. Petersburg Valentina Matvienko. The meeting led to a mutual arrangement, according to which the bank would help draw up a strategic master plan for the city’s long-term development for the next decade.

“This study is going to be useful for the St. Petersburg government. The viewpoint of the foremost international financial institution is vitally important for us. Your views will help us shape our plans for the future of our city,” the governor said.

Governor Matvienko said that St. Petersburg had established a special relationship with the World Bank. “We are a rich city but we need your knowledge and advice. We want intellectual cooperation with the bank,” emphasized governor Matvienko.

The World Bank advises St. Petersburg authorities on  significant infrastructure projects, including the Orlovsky tunnel, the overland railway express Nazemniy Express,  and the reconstruction of the Pulkovo airport – making it a regional hub. Also, the cooperation will be extended to municipal services.

Khanty-Mansiysk-Yugra: advancing cooperation

Managing director Dr. Ngozi Okonjo-Iweala also held a working meeting with governor of Khanty-Mansiysk Alexander Fillipenko. The meeting highlighted the need for further development of cooperation between the region and the bank, especially in the education sector.

“We covered a wide range of education issues in the region,” said governor Fillipenko. “The World Bank’s assistance and advice allowed us to start a systematic development of higher education in our autonomous region.”

During the meeting, the bank’s representatives and regional authorities outlined several areas where the bank could be of further help, including healthcare, housing development, social development, primary school, financial institutions development, and transportation.

“Our task is to achieve all objectives and goals we have already agreed upon. And I’m also looking forward to a wider cooperation between the bank and Khanty-Mansiysk,” concluded managing director Dr. Ngozi.