Embed Size (px)
Citation preview
THE 1818 SOCIETY
BULLETIN
Volume 3, Issue 22 www.worldbank.org/1818 September 2014
From The 1818 Society President’s Desk
Dear Members: With the Annual Meetings nearing, it is time to reflect on what members and the Board can respectively expect at these meetings being held October 15-17, 2014. Members can expect sharing of information and exchange of views on the Society’s strategy, measures and performance on matters like pensions, medical insurance and some troubling tax or member banking issues, on the state of collaboration with the WBG, on progress on social and knowledge networking, on the management and governance of the Society and to make some impact on the future direction of their Society. The October 15th to 17th program includes the formal Annual Meeting and the two usual sessions on Pensions and Health Insurance. A new feature this year would be a working lunch on how the WBG and the Society can partner with each other more effectively on sharing development know-how. There will be discussion tables, one for each Thematic Group and its Chair(s), and members who wish to participate may please signify which table they would like to join. There would be a special session on Aging in Place. The keynote speaker would be Jonas Carnemark, CR, CKD, a leading designer in the Washington area who many members will recall is the son of popular 1818 member and photographer, Curt Carnemark. Jonas will walk us through the issues relating to remodeling our homes to meet the challenges we face while aging and how to apply universal designs to make our homes more secure, convenient and comfortable. He will be followed by a representative from our Credit Union who will present financial options available to members to finance such modifications. Another new feature this year is that the annual dinner will be at a popular restaurant near the Bank, La Taberna del Alabardero, which many of you have patronized before. At the Annual Meetings, the 1818 Board in turn can expect candid feedback on the fiduciary role of the Society on pension and insurance matters. And on how effective the Society has been in representing retiree interests on collaboration with the WBG, on the progress of the knowledge and social agenda of the Society, on getting a green signal to amend the By-Laws to allow broadening of non-voting term membership of our Chapters, Groups and Clubs designed to invigorate social and knowledge activities in different parts of the globe, on how to spur greater vibrancy in the efforts of members individually to benefit from connection power made available to them by the Society through micro-initiatives launched by them at grassroots rather than waiting for top down centralized initiatives, and finally, on how to enhance constructive member participation and exercise of accountabilities relating to the governance and management of the Society, including
Page 2 Chapter Events September 2014
demonstration of greater voice and interest by individual members in regard to choice of their representatives on the Board. We have troubled you often, our esteemed members, for comments on pension and insurance matters, By-Law amendment proposals and nomination and election and voting of Board members, and indeed on how to communicate with you better. Your comments have helped raise the impact of our efforts, though we still have far to go on many of these matters. We are deeply indebted to you for your thoughtful guidance. We hope to see many of you at the meeting or connect with you electronically through the planned live streaming of the Annual Meeting proceedings. And I look forward to a year more of working with you in my present capacity. With best regards Shiva (J Shivakumar, President, The 1818 Society)
PLEASE KEEP YOUR ADDRESS AND E-MAIL UP-TO DATE Please remember to inform The 1818 Society when your address, phone number or e-mail changes. The best way to do this is via e-mail as it reduces typing errors. The Society’s e-mail is [email protected]. Please include your UPI on all e-mails sent to The 1818 Society office.
Chapter Events
ANZ CHAPTER Following on previous reports, the appeal by the Australian Taxation Office against the finding by the Administrative Appeals Tribunal that the World Bank pension is not subject to income tax in Australia will be heard by the Federal Court of Australia at a date to be set in November 2014. The case will be before the full court. This case has led to numerous enquiries by colleagues around the world. Other matters under consideration are the date and place of the next meeting of the Chapter later this year, and a possible international reunion in Australia and New Zealand in 2015 or 2016. For matters concerning the Australian and New Zealand Chapter please contact Jo. M. Martins, at [email protected], Tel: 61 + 2 + 9973 3022.
Page 3 Chapter Events September 2014
BRITISH CHAPTER
Reunion and Christmas Lunch. 6 December 2013 Date: Saturday 6 December, 2013-07-13 Time: 12.00 Noon Place: Thistle Holborn, The Kingsley, Bloomsbury Way London, WC1A 2SD Tel. 0871 376 9006 Booking forms will be distributed in September 2014. For more information contact Ian Hill at [email protected] Spring Reunion and AGM. 2015. Dublin. The event will be held in Dublin from 8 – 10 May, 2015. Members and guests are assured of good accommodation in Bewleys Hotel, Ballsbridge, a short distance from the city centre. The tentative programme includes tours of the best of Georgian Dublin and of Trinity College, with a visit to the college library to view the Book of Kells, a unique medieval illuminated manuscript. There will also be a trip through the beautiful Wicklow Mountains and, of course, plenty of Dublin “craic”. Booking forms will be distributed in February 2015. For more information and early expressions of interest contact Ian Hill at [email protected].
CANADIAN CHAPTER
The Canadian Chapter welcomes new members. Any former Bank staff who have not joined are welcome to contact Jim Smith at [email protected]. Jim would also welcome help in the task of contacting other Canadians who may potentially be interested in joining the Chapter. Assistance in maintaining the Chapter and promoting its activities would be greatly appreciated.
CHILEAN CHAPTER
A cocktail and dinner gathering has been arranged for September 9 sponsored by the Chile Chapter with the Worldwide Alumni Club of Columbia Business School, which takes place in tandem with over 40 cities globally. The speaker will be Mr. Roberto Zahler, former President of the Central Bank in Chile, and advisor of major companies in the country and internationally. The topic for discussion will be the growing international competitiveness and its implications on the country’s institutional and other constraints, the structural reforms under consideration, the trade-offs to be considered, their transitional effects and international experiences in managing them. The event will take place in Club Golf 50, in Las Condes Santiago. Those interested in participating should contact either Miguel Schloss or Silvia Lay, tel. (56) 22 458 6050, or send emails to [email protected] or [email protected]. The Q&A and Special Issues team is issuing its fifth Newsletter addressing frequently asked questions by Chapter members, covering: alternatives for catastrophic health services in the country; deadlines for submission of insurance claims; and update for accessing various HR services.
Page 4 Chapter Events September 2014
For the coming months, and until further notice, points of contact for the following issues are: Aetna -- Jorge García-Mujica, [email protected] Vanbreda -- María angélica Correa, [email protected] Webpage -- Rocardo Martín, [email protected] SRP currency & foreign exchange issues -- Jorge García-Mujica, [email protected] SRP general -- Miguel Schloss [email protected] Q@A Newsletter -- M. Corea, [email protected]; G. Moreno, [email protected]; M. Rodriguez, [email protected]; [email protected] For publications by the Chilean Chapter members, please go to the Chapter website at https://sites.google.com/site/1818chile/home
DUTCH CHAPTER The Dutch Chapter is informal, without registration or membership fees. Therefore maintaining an up-to-date address system (and keeping track of E-service provider changes) poses a constant challenge. If you have recently changed your e-mail address, please inform the secretary at [email protected] Fifteenth Annual Reunion Time: September 4-6, 2014 Place: Deventer Deventer is a Hanseatic town on the bank of the River IJssel, founded by an English missionary in 768, although remnants of human settlement dating back to the bronze age were found just east of the present city. The village of Deventer was important as a trade road crossing the IJssel. It was looted and burned down by the Vikings in 882, but rebuilt and fortified. It received city rights in 956. Between 1000 and 1500, Deventer grew to a flourishing trade center as the river could accommodate large ships. Between 1500 and 1800, falling waterflows in the IJssel decreased the importance of Deventer as a harbor, and competition with trading centers in Holland and the eighty years war (1568 – 1648) brought a decline in the city’s economy. In the 19th century Deventer became an industrial town. Its industrial areas and harbor were heavily bombed during World War II, but the city center was largely spared. Bussink Deventer Koek (honey cake) has been produced in Deventer for over 500 years and is still being sold locally, and all over the Netherlands and beyond. It will be served at the reunion. Upon arrival Thursday afternoon September 4, there will be coffee and the special Deventer cake. That afternoon and before the dinner that evening you will have a choice between: relaxing with friends in the hotel; taking the little ferry across and enjoy a drink in a pub in the center of Deventer; or join the bycicling tour along the river IJssel (weather permitting). We will stay in the Sandton IJsselhotel, a restored 19th century historic mansion along the River IJssel across from the city of Deventer and linked by a pedestrian ferry, which brings you straight to the middle of Old Town Deventer. The tentative program of the reunion includes an official dinner on the Thursday evening, and a highly varied program for the Friday, covering a visit to the IJssel line, a post-World War II defense line against the threats of the East, with fortifications, bunkers and water diversion works to inundate the IJssel valley; a visit to an ecological/flood management farm; and a boat tour to enjoy the beautiful river landscape. We plan to get to know the old city center of Deventer in a special fashion, at leisure with horse drawn carriages, combined with an evening meal in a historic building. But the program will leave enough room to visit the town on your own, and enjoy the many terraces on the large central market, the “Brink”.
Page 5 Chapter Events September 2014
By the time you read this, our reunion will have been completed. We will report our Deventer adventures in the December issue. Sixteenth Annual Reunion, September 3-5, 2015, Amsterdam Always wanted to visit Amsterdam but didn’t get around to it yet? Here is your chance…… The Dutch Chapter of the 1818 Society will hold its 2015 reunion in Amsterdam with a special program, on September 3 - 5. Reunion participants will visit the Maritime Museum with its authentic East India Company ship and the Amsterdam Hermitage which, besides special exhibitions, will house a large number of Van Gogh’s works (the Van Gogh Museum is currently being renovated, but still open to the public). Of course, in addition to museum visits, we are planning a number of other program points. As Amsterdam is built in and on the water, we will move around by boat, rather than by bus or other means of transport. We may go to taste Dutch gin and liquor at a distillery (it advertises more than 60 varieties, so this will take a while); and we will be staying in a hotel that started out life as the original Heineken brewery in the 19th century, a minute away from the Dam Square, the heart of Amsterdam. Dinner might be Indonesian Rijsttafel, or Suriname cuisine. Of course, if you decide to stay a few days before or after the reunion, you could rent a bike or take the tramway and explore Amsterdam at leisure. Or you could go see the newly renovated Rijksmuseum. During his very brief visit to the Netherlands in March 2014 to attend a nuclear safety conference, U.S. President Obama still took time out for a quick visit to this famous museum in Amsterdam. The museum’s website will give you a good impression of this late 19th century building, restored to its old glory, but now with 21st century features and security. And whether you like Rembrandt, Vermeer or Frans Hals, or prefer “Chine de Commande” porcelain or silver, you are guaranteed to come away somewhat dazed by the vast collection. Taken altogether, we hope that many of you – both living in the Netherlands and abroad - will decide to take this opportunity to spend a few days exploring Amsterdam in the company of former Bank colleagues. Please let us know as soon as you can, as hotel space is at a premium in Amsterdam. Contact: Henk Groen ([email protected]) or Mariette van Beek ([email protected]) Seventeenth Annual Reunion, September 1-3, 2016, Dordrecht An identification mission has already taken place and Dordrecht looks promissing as a venue for a reunion. Dordrecht formally became a city in 1220 and claims to be the oldest city in Holland. In the Middle Ages it became an important trade center, and this rich history is reflected in the many monuments and buildings in the old inner city. Important events were the first meeting of the States of Holland in 1572, and the Synod in 1618-1619. Dordrecht is situated at the busiest river junction in Europe, and at Dordrecht’s lands end there is a fascinating view on the continuous ship
movements on the three rivers. Also close to Dordrecht is the famous estuary Biesbosch, the exploration of which will be part of the program. About 20 minutes walk from the old city center, the old water tower and pumping station have been transformed into a hotel, and would be an interesting accomodation. The identification was done
by Jan ter Vrugt ([email protected]) and Robert-Jan van der Lugt ([email protected]).
Future Reunions 2017 August 31 – September 2 2018 August 30 - September 1
2019 September 5-7
Page 6 Chapter Events September 2014
FLORIDA CHAPTER
Summer will soon be over and many of us will now begin heading once again to Florida. To kick off the season, Karin Nordlander has organized a dinner for the SE Florida group in Boca Raton October 20, at 5:30 PM at Josef's Table (www.josefstable.com). I’m sure all 1818 members are welcome, and Karin’s contacts are below. For the SW Florida group, we are proposing to meet for lunch at 1.00pm on Saturday November 15, 2014 in my club restaurant – Tarpon Cove Yacht and Racquet Club in Naples (www.tarponcoveclub.com). Of course, you are welcome to bring your partner, friends, swim costume – and any 1818 member in the area is also most welcome. Cost is likely to be about $25 plus alcohol and gratuities. If you are interested to attend, please email me (contacts below). We should be able to sit outside under the palms – but if it rains, we can move to a private room in the clubhouse. The club has a lovely location on the water in Wiggins Pass, and you can ride the club boat to the Delnor Wiggins State Park (http://www.floridastateparks.org/delnorwiggins) and enjoy the beach either before or after lunch. The ride takes 15 minutes each way, and the boat runs every hour from the club. For those with a wild side, Karin Nordlander is proposing a SWAMP WALK near Everglades City. Do take a look at the website (http://www.clydebutchersbigcypressgallery.com/reserve-labor-day-swamp-walk). This is an easy swamp walk for beginners. Kudos to Karin! Please e-mail us if you are interested. The walk could be planned for some time in November or January, depending on interest. Beyond the Fall, we are looking into three potential reunion options: a Caribbean cruise (March or April); a Space Coast weekend (no dates yet, but could be between February and April) that Robin Broadfield, our NE Florida coordinator, is organizing; and a cultural gathering in St Augustine the weekend of April 18, 2015, jointly with the Florida Humanities Council. Yes, there was a Chapter reunion in St. Augustine in 2002 but this event promises a very interesting agenda. The Council is an incredible organization that might be better named "Cultural and Historical Council." To give you some idea of their activities, you might check out their event in Fort Myers this October (http://www.flahum.org/Speakers/Fort_Myers_2014). Karin Nordlander is an avid supporter of the Council and has participated in many of their events over the years. Karin highly recommends them.
For the two proposed Florida weekend events, more details will follow over the next month, but both would likely cost about $550/pp (including most meals, but not alcohol). Surveys of expression of interest will be posted on the 1818 and Florida Chapter websites when we have more details.
Several of you expressed interest in bus trips to Opera Nights in Miami in season, and I will post information on our website in the Fall when it becomes available.
If any of you wish to post information on activities you will be engaged in this season (for instance some of you are involved in volunteer work and would welcome more volunteers; others are teaching courses that are open to the public, etc.) please email me by September 25, and I will post the information on the Florida Chapter website in late September.
Thank you all for your ideas; do keep them rolling in.
Sandra Hadler, Florida Chapter
Page 7 Chapter Events September 2014
Regional Coordinators’ Contacts: NE: Robin Bradfield [email protected] Ormond Beach NW: June Dosik [email protected] Apalachicola SE: Karin Nordlander [email protected] Boca Raton SW: Sandra Hadler [email protected] Naples
FRENCH-SPEAKING CHAPTER
The summer in France is universally known for slow activity on any front. Everybody seems to be on vacation, and there is therefore not much to report. A meeting of the new CA of the French-speaking chapter has been scheduled for October 16. In the meantime Olivier Lafourcade and his wife are looking forward to participate in the Annual Meeting of the German-speaking Chapter in Salzburg, September 19-21. Information concerning the French-Speaking Chapter is available on the website: http://www.1818france.org/. For additional information please contact Olivier Lafourcade at [email protected]
GERMAN-SPEAKING CHAPTER
By the time of the issuance of the September Bulletin, the 2014 Annual Meeting of the German-Speaking Chapter will have taken place in Salzburg, Austria. An account of the meeting, for which more than 130 participants have confirmed their attendance, will be published in the December issue. The 2015 Annual Meeting will be held most likely during the first weekend of September in Prague, Czech Republic. Further information will be published in future issues of The 1818 Society Bulletin. The German speaking 1818 Society Chapter now also has its own website at www.kreis-1818.de. Interested 1818 Society members can register. The website is bi-lingual: German and English.
INDIA CHAPTER For information on the India Chapter of The 1818 Society, please contact Vaikalathur Ravishankar at [email protected].
IRAN CLUB – WASHINGTON, D.C.
The Iran Club – Washington, D.C. has recently been established. The main purpose of the Club is to enhance the interactions and communication among a large number of Iranians and Iranians of dual nationalities who are retirees of the World Bank Group, mostly residing in Washington Metropolitan area. In addition, the Club would help to provide further opportunities for the contact and cooperation with the World Bank Group, as well as with The Society at large. The Club is a non-profit and non-political association, and free to its members. For further information, please contact Mohammad M. Farhandi at [email protected].
Page 8 Chapter Events September 2014
JAPAN CHAPTER The 8th Annual Meeting of the 1818 Society Japan Chapter was held at the restaurant Tohri (Chinese cuisine) of New Takanawa Prince Hotel Tokyo on July 25, 2014 with thirty-three participants. After the normal reporting of activities during year 2013-2014 and the approval of budget for year 2014-2015, two guest speakers gave their deliberation on specific subject. First, Mr. Makoto Nakagawa, Ministry of Finance official who just returned from the Bank in July, touched on “Reorganization of the World Bank Group by President Kim.” Second, Mr. Masaru Madono, ex-Japan Bank for International Cooperation official and Professor at Reitaku University, briefed us on “Current Situation in Ukraine and its Relations with Russia.” As Japan Chapter’s membership rules are more liberal the 1818 Society’s rules in terms of eligibility, we would always welcome you as a new member. Please contact our administrator through e-mail: [email protected] for details. The Japanese and English language version of the Japan Chapter’s Web Home page can be found at http//www.1818societyjapan.com/. For further information and/or details, the contact in Japan are: Ms. Y. Okamoto, Director, at [email protected]; and Mr. H. Hamaguchi, President, at [email protected]. For the Washington DC area, contact Mr. K. D. Kikuchi, Headquarters Liaison at [email protected].
Transparency International – USA TI-USA is pleased to announce that James D. Wolfensohn, former President of the World Bank Group will receive the TI-USA Integrity Award, and Raytheon will receive the TI-USA Corporate Leadership Award on November 3, 2014 at the Mayflower Renaissance Hotel, Washington D.C. For information about the 2014 Integrity Award Dinner (an invitation-only event), contact [email protected] Mr. Wolfensohn and Raytheon join prior TI-USA distinguished awardees Senator Richard Lugar, Secretary of State Hillary Rodham Clinton, Paul Volcker, Fluor, The Coca-Cola Company and General Electric.
INTERNATIONAL ARTS AND CRAFTS FAIR - NOVEMBER 11, 12, 13, 2014 Margaret McNamara Memorial Fund (MMMF) Table welcomes gently used donations from your travels around the world. Drop them off at World Bank Family Network offices or at Caroline Berney’s home at 6818 Millwood Road, Bethesda, Maryland 20817. Tel 301 229 5706
Page 9 The 1818 Society Contacts September 2014
2013-2014
THE 1818 SOCIETY : [email protected] Ph. +1 202 458-1956 Mailing address: P.O. Box 27388 Washington, DC 20038-7388 Physical Address: MC-1 852, Main Complex, World Bank Group. World Bank Mail Stop no: MSN MC 1-104.
President: J. Shivakumar [email protected]
Office Managers: Miren Fernandez [email protected] Swati Srivastava [email protected]
International Chapters:
ANZ – Jo. M. Martins: [email protected]
British ― Alan Roe; [email protected]
Canada – Jim Smith, [email protected]
Chile – Miguel Schloss [email protected]
French-Speaking – Olivier Lafourcade, [email protected]
German-Speaking – Franz Kaps [email protected]
India – Vaikalathur Ravishankar, [email protected]
Iran Club – Mohammad M. Farhandi; [email protected]
The Netherlands – Robert Jan van der Lugt, [email protected]
Japan – Harutaka Hamaguchi, [email protected]
US Chapters: Florida ― Sandra Hadler, [email protected]
Thematic Groups/Chapters Michel Audigé [email protected],
Asif Faiz com
Agriculture and Rural Development Chapter
Shawki Barghouti, [email protected]
1818 Economists' Chapter
Vikram Nehru, [email protected]
Education Group
Sverrir Sigurdsson, [email protected]
Energy Group
Eugene McCarthy, [email protected]
Gender and Development Chapter
Nadereh Chamlou, [email protected],
Dominique Lallement, [email protected]
Global Finance Chapter
Rene Costa, [email protected]
1818 Society WBG History Thematic Group
Chuck Ziegler, [email protected]
HNP Group
William McGreevey, [email protected]
The Social And Environmental Chapter
Michael Cernea; [email protected], Nick Flanders; [email protected].
Transport Chapter
Michel Audigé, [email protected],
Asif Faiz, [email protected]
Urban and Water Group
Dick MacEwen [email protected]
Page 10 September 2014
Thematic Group Events
Each 1818 Thematic Group would like to link up with new retirees from its Group. Right now, leaders of the Thematic Groups review the list of new members in each 1818 Society Bulletin to spot newcomers affiliated with their sectors. Please help us improve on this hit-and-miss system by alerting the Thematic Group contacts mentioned below about new members affiliated with Operational Thematic Groups.
1818 AGRICULTURE AND RURAL DEVELOPMENT CHAPTER Please send feedback and suggestions to [email protected] about issues you would like the Chapter to share with members of The 1818 Society.
1818 ALUMNI DEVELOPMENT KNOW-HOW NETWORK (DK-HN)
Letter From the Cloud -- #7 Friends: Where, you might well wonder, has summer fled? I cannot answer that eternal question. But thanks to the indefatigable Lesley Shneier, who has bailed me out once again, here are some summary notes on the DK-HN front (don’t you love acronyms). 1818 LinkedIn Site: If you haven’t checked this out, please do so immediately because it is generating lively discussions on a range of mutual interests. It is open to all 1818 Society members and provides an informal forum for people to chat about concerns, questions, issues, particularly regarding insurance matters (RMIP). For example, Express Scripts doesn’t reimburse for prescriptions filled outside the United States. One has to pay the bill first, and then submit to Aetna, not Express Scripts, for reimbursement. Also, some members have experienced “rejections” by Express Scripts at the pharmacy. Solution: Ask the doctor to call Express Scripts to authorize the drug; this can take time and thus can be infuriating, but it is part of the changes introduced last year. If you don’t find satisfaction to your concerns/questions via the LinkedIn site, Lesley says that it can really help to email [email protected] and copy the 1818 Society at [email protected]. This way, we can try to follow up on your behalf. SkillsFinder internet tool: About 40 members have created their profiles so far in this new tool. As you may recall, this instrument is designed to result in a user-friendly on-line data base of relevant experience that Bank alumni can provide to current Bank staff. Glitches galore have been encountered by 1818 Society members in the initial stages of this experience, and Bank internet technology specialists have been working very hard to help resolve the problems on a case by case basis. The biggest hurdle has been the so-called firewalls inspired by Bank security systems, which can leave one in an endless loop of creating new passwords without making much progress. Lesley is working on this and advises (a) create a password (also called passkey); (b) leave it for about 24 hours while you have a drink or two and some sleep and (c) with luck, you can return to the computer, employ your password and eureka – SkillsFinder! Based on these experiences, we will shortly be sending out a revised tutorial along with frequently questions and answers. In the meantime, keep calm, carry on and enjoy the remaining days of another summer (in the northern hemisphere of course). Tom Blinkhorn
Page 11 Thematic Group Events September 2014
1818 ECONOMISTS' CHAPTER The 1818 Economists' Chapter will awake from its summer slumbers with a presentation by Yukon Huang on Why Do Views Differ So Much on China's Economy? on Wednesday, September 17th at 11 am in J-1-050. This will be a fascinating and provocative talk by a renowned expert on the Chinese economy. Another notice will be sent closer the date. As members of the 1818 Society are all too aware, the 1818 Economists' Chapter holds monthly seminars in the middle Wednesday of every month at 11 am. The meeting in October, for example, will be on Wednesday, October 15. The Chapter does take a break during the Christmas holidays and over the summer to allow its members to recuperate from their intellectual toils but with the expectation that they return fully energized and revitalized to enliven its proceedings. If you have ideas or recommendations on speakers who should be featured by the 1818 Economists' Chapter, or wish to share your latest research or publication, please do get in touch with me. You will find the audience that attends these seminars to be engaged, thoughtful, and influential and the discussions lively, candid, and well informed. I look forward to hearing from you, and to welcoming you, your family, your friends, and your colleagues to our forthcoming program of seminars. With my best regards, Vikram Nehru Chair, 1818 Economists' Chapter
1818 EDUCATION GROUP
The Education Group is planning a joint event with the World Bank Family Network on October 30, 2014 from 12:00 noon to about 1:30 p.m. in Room J-1-050. The main speaker will be Dr. Cory Heyman who is the Director of all Room to Read programs. Eduardo Velez will provide commentary. We hope that you will join us for this interesting event. Room to Read, as many of you will know, is a nonprofit NGO that focuses on literacy for children and provides scholarships for girls to complete their education programs in eleven countries worldwide. Some of its impressive achievements include: Schools constructed - 1,752; Libraries established - 16,060; Books distributed - 13.3 million; Girls' education participants - 25,703; Children benefited - 8.8 million; Countries served- 11; Teachers trained - 6,346. The Education Group invites its audience to propose speakers and topics at future events. You can send your proposals to: Sverrir Sigurdsson ([email protected]), Marlaine Lockheed ([email protected]), Eluned Schweitzer ([email protected]), Larry Wolff ([email protected]), Michael Mertaugh ([email protected]), or Eduardo Velez ([email protected]). Other retirees are encouraged to add diversity and ideas by joining the above advisory group.
Page 12 Thematic Group Events September 2014
1818 ENERGY GROUP In welcoming back our energy retirees from another summer vacation, we begin with sad news: Anil Malhotra passed away suddenly at his home in Bethesda on August 22. He had just celebrated his 75th birthday one month earlier. Anil joined the Bank in the mid-1980s, prior to which he had been Vice Chairman of the Oil and Natural Gas Corporation and led India’s offshore oil development effort. This experience is described in one of several books he authored: A Passion to Build: India’s Quest for Offshore Technology. Despite the importance of technology transfer in successful development experiences, the Bank struggled to make full use of Anil’s talents within its post-1987 organizational structure. Determined to find a partner which could make more effective use of his experience, Anil ‘migrated’ to the Bank office in Vietnam, where he established a very close dialogue with his counterparts in that country in offshore gas development, rural electrification, and in building up local capacity. Indeed, Vietnam was to become his adopted home. Anil was a prolific writer – on a vast array of subject matter. His monthly blog kept him in touch with these colleagues when he retired from the Bank. Anil had been battling ill health for many years; his courage in doing so was admired by all his friends. We extend our deepest sympathy to his wife, Ena, his daughter, Shibani, his son Akhil and family, and his sister-in-law, Janet Nader. We begin our fall series on Thursday, September 18, with a presentation by Charles Feinstein, the new director of Energy and Extractives Global Practice. Chas joined the Bank in 1986 and was manager of ESMAP, and, later, energy operations in ECA and EAP. He will discuss the status of the recent reorganization within the Bank and how it has affected energy. He will also outline the main challenges that lie ahead for a lending program that reached $7bn in FY 14. For further information about activities of the Energy Sector Group, please contact either Mike Gillette ([email protected]), Mohammad Farhandi ([email protected]), Akin Oduolowu ([email protected]); Eugene McCarthy ([email protected]); Alain Barbu
([email protected]); or Hal Wackman [email protected].
GENDER AND DEVELOPMENT CHAPTER
The Chapter invites those with interest to contact Co-Chairs Nadereh Chamlou ([email protected]) or Dominique Lallement ([email protected]).
GLOBAL FINANCE CHAPTER
Since its creation in November 2013, the Global Finance Chapter (GFC) has been quite active with five presentations by top-notch speakers, as well as its participation in most initiatives taken by Society members. As many of our friends were enjoying their well-deserved vacation time outside Washington, our activities during summer focused on two important matters: scheduling our work program for the winter months and looking at liaising with the World Bank Group's (WBG) new directorships. These lines of action were decided at our second annual meeting on June 30th. Regarding our forthcoming presentations, Charles Arthur Bowsher will talk to us on the U.S. Financial Outlook in September while John Lipsky will present his views on the future of the
Page 13 Thematic Group Events September 2014
Bretton Woods Institutions in October. We also expect to have Michael Sarris and Donal Donavan explaining how well periphery and center European countries have recovered after the 2008 financial crisis; and Ann Krueger on how countries have been managing their structuring of their debts. Also, we will contact Bertrand Badré to let us know about progress made in strengthening the WBG financial performance. While two of the three pillars (the WB and MIGA) have already spoken to us about their endeavors, we are still expecting the third pillar (IFC) to explain to our members how they have joined forces with the two other institutions in the implementation of the new WBG holistic financial strategy. Pursuing its objective of liaising with the new WBG organization, the GFC extended its wishes of success to two Global Practices (Finances & Markets and Trade & Competitiveness) and one CCAS (PPP). We expect to meet with their management and staff during the winter. In terms of members’ potential assistance to WBG staff (as consultants and/or on a pro bono basis), we endorsed the opening to alumni of the WBG’s new SkillFinder platform as a way to facilitate connection and collaboration between WBG staff and 1818 Society members. We provided all information about this platform to about one hundred sixty of GFC’s friends. While we do not know how many members have created a profile in SkillFinder, practically no one ventured to comment on our question on the bien fondé of this new initiative. At this time, we can only recommend that the 1818 Society carefully monitor the SkillFinder outcome (members adhering to the system and WBG staff using their services). Information on the Global Finance Chapter’s program of activities and feedback on presentations and minutes of meetings is available on our Chapter’s Section in the 1818 Society Internet site. You may also contact either: René Costa, Chairman ([email protected]), or John Nellis, Co-chairman and Senior Adviser, public administration and finance ([email protected]); or, Wolfgang Schaefer, Co-chairman and Senior Adviser, private sector and PPP ([email protected]); or Jed Shilling, Co-chairman and Senior Adviser, economics and trade (jedshilling@verizon,net).
1818 SOCIETY WORLD BANK HISTORY THEMATIC GROUP
The 1818 Society World Bank History Thematic Group has come to life! We have currently eleven members who are assessing various topics that would be appropriate for presentations to be attended by both 1818 Society members and current World Bank Group staff. Among the topics under consideration is a review of the 1987 and 1998 reorganizations, and how the current reorganization could profit from lessons learned in the earlier reorganizations. As well, this Thematic Group is assessing the feasibility of recording and disseminating not only its sessions but those of the other 1818 Society Thematic Groups as well, thus making them available much more widely than is now the case. If you are interested in joining this Thematic Group, or have suggestions for topics and presenters, please contact Chuck Ziegler at [email protected].
Page 14 Thematic Group Events September 2014
1818 HNP GROUP Please forward suggestions for future sessions to [email protected] and we will seek to respond to all interested parties. Please induce friends and colleagues not now within reach to join our efforts. We have a site on GoogleGroups that all are invited to join.
THE SOCIAL AND ENVIRONMENTAL CHAPTER We are very pleased to inform all members of the 1818 Society that a new Chapter of our Society has been created, starting on July 1st, 2014. This Chapter has two Co-Chairpersons: Michael M. Cernea, the World Bank’s former Senior Advisor for Social Policies and Sociology, and Nicholas Flanders, formerly a Principal Environmental Specialist in IFC, who have graciously accepted the responsibilities of leading the Chapter and ensuring an exciting program for the interested 1818 Society members. Since Bank policies and projects usually have both social and environmental provisions, we hope that this chapter will be of direct interest not only to the social and environmental specialists among our members, but also to various groups of other members who have addressed the social and environmental dimensions germane to their activities. Therefore, information about activities of this chapter will be sent to a large number of 1818 members. We suggest that those most directly interested in either social or environmental issues send in a brief e-mail indicating their interests so as to make sure that further communications will reach them. The Co-Chairpersons of these chapters are also inviting all members to send in proposals on potential activities and presentations they would like to attend. Michael Cernea ([email protected]), Nicholas Flanders ([email protected])
TRANSPORT CHAPTER
In July, Michel Audigé, co-chair of the Transport Chapter, attended a meeting organized by The 1818 Society to showcase SkillFinder, a new web-based tool aimed to enable current World Bank Group staff to find technical specialists—including WBG alumni—who are willing to provide services, either pro bono (free of charge) or paid under a short term contract (STC). The Transport Chapter representative clarified that pro bono services can definitely be delivered by alumni on a voluntary basis and for topics of general interest, such as desk review of a new transport strategy or technical guidelines, but for a limited duration, i.e., a few hours. Please refer to the Minutes of the meeting for more detailed information on SkillFinder. After almost two years of service as co-chairs of the Transport Chapter, Asif Faiz and Michel Audigé have concluded that it is time that both positions of Chair and Co-chair be offered to other Chapter members for the next two-year term (2015-2016). This will help reinvigorate our activities. We also propose that these two positions be filled through an open and transparent selection process, in line with precedents being set by the 1818 Society leadership. A call for nominations will be sent to all members in September after a discussion of the nomination and election process at our next ROMEO (Retired Old Members Eating Out) lunch, eventually followed by a special meeting at the Bank for this purpose, if deemed necessary. The election will be done through electronic media. Asif Faiz and Michel Audigé, Transport Chapter Co-Chairs
Page 15 Thematic Group Events September 2014
1818 URBAN AND WATER GROUP For information about the Urban and Water Group, please contact Edouard Motte ([email protected]). If you would like to receive announcements of the Group’s activities, please contact Dick MacEwen ([email protected]), and he will add your name to the Group’s e-mail distribution list.
World Bank Contacts 2013/2014
Medical Insurance and Benefits : HR Service Center
Pension Administration
ph: +1 (202) 473-2222 Fax: +1 (202) 522-2150
Email: [email protected] ALWAYS include your UPI
Web: http://www.worldbank.org/hrs
E-mail: [email protected] ALWAYS include your UPI
Ph:+1 (202) 458-2977 Fax: +1 (202) 522-1723
1818 PENSION COMMITTEE
Update on the Staff Retirement Plan
By Jeffrey Katz, 1818 Society Pension Finance Committee Representative, and Javed Hamid, 1818 Society Pension Finance Committee Alternate Representative
With the publication of the Annual Report of the Staff Retirement Plan (SRP), upcoming meetings of several Society Chapters, and the annual seminar on the pensions that the Society will be holding on October 15 prior to the Society’s Annual Meetings, we thought it would be useful as background to highlight the key developments. We are continuing to work with the Pension Department to make the Annual Report as informative and responsive to the needs of retirees as possible. The areas and issues highlighted in this note are: (i) the current financial status of the Plan, notably as reflected in the funded ratio, (ii) projected future funding requirements, (iii) actuarial assessment, including key economic and demographic assumptions, (iv) investment performance, (v) investment management and returns by asset class, and (vi) Bank support, including the reserve fund established by the Board to cushion budgetary impact of fluctuations in required contributions. Unless otherwise noted, all the figures used in this note are as of end CY 2013 and are based on the audited accounts as contained in the Annual Report. The technical dimensions are outlined below, but overall a few key developments stand out: 1) The funded status has continued to improve, and existing assets are sufficient to cover the present value of existing obligations on a reasonable basis; 2) The level of Bank contributions needed to cover expected future benefit accruals of existing and new staff coming on board over the next 10 years has eased off to 19% of net salaries, even below the level that would be needed for new staff alone; 3) The main driver for the lessened Bank contribution is the investment performance of the fund, which has been well exceeding the long-term target real net return of 3.5%. In 2013 the net real return was 8.1% and over the past 5 years has averaged 8.3%. 4) These returns well in excess of actuarial assumptions largely reflect the strong recovery of financial markets since the 2008 crisis, but more nimble management has also been needed. The plan exceeded its short term benchmark’s
Page 16 1818 Pension Committee September 2014
by 0.5% in 2013, though performance does vary across asset classes; 5) The Bank’s Board has put in place a mechanism (outside of the SRP) whereby, instead of fully pocketing the excess returns earned by the SRP, the Bank will contribute to a reserve fund that could be drawn on to smooth the impact on the Bank’s budget (beyond the mechanisms in place within the fund) of a particularly steep or prolonged market downturn should that occur. We note that despite –or because of--the strong recovery over the past five years, there are important challenges going forward. Fixed income investments benefitted greatly from declines in interest rates, but that pendulum has swung to its limit. The bull market in equities is widely seen as long in the tooth, so that comparable future returns will surely be harder to capture; geopolitical developments point to increased risks of economic disruption. In this environment, the SRP will need to be vigilant and rely on the advantages of a long term perspective and a need to be responsive to changing conditions. Funded Ratio The funded ratio at the end of 2013 was 1.00 on a PBO basis. This measure compares the fair value of the plan’s assets to the present value of accrued benefits. Accrued benefits include future payments to current retirees and rights already earned by current staff. For current staff, the measure is based on service to date including projected future salary growth1. These are then discounted to the present using market (AA corporate) interest rates and published inflation forecasts consistent with market yields. The match of the value of assets on hand with pension rights already accrued implies that existing assets reasonably cover the present value of existing obligations as of December 31, 2013. Put another way, the PBO ratio of 1.00 indicates that under market-based assumptions of inflation and interest rates the assets of the plan would be sufficient to cover the plan’s accrued obligations were the plan to be terminated. This PBO measure is required by the International Financial Reporting Standards and US GAAP and provides comparable figures among pension plans that comply with one of these accounting standards2. The funded ratio is highly sensitive to changes in the market interest rates that are used to discount future benefits as well as investment returns. As shown in the figure below [figure 2.1 from the AR], the rise from 0.88 in 2012 to 1.00 in 2013 reflected both investment returns and higher interest rates.
Funding Requirements The PFC uses a broader measure than the PBO funded ratio to determine the required contribution by the Bank. The funding methodology used by the PFC takes into account not only the obligations
1 Including future salary growth takes into account that key benefits are based on a staff members highest average salary at the time they retire. These concepts are explained in detail in Appendix II of the Annual Report. 2 See International Accounting Standard 19 and ASC 715 under US GAAP.
Page 17 1818 Pension Committee September 2014
to current retirees and staff that have been accrued to date, but also the projected service accruals of current staff and the projected accruals of 10 years of future staff. These are then discounted to the present using the 3.5 percent real discount rate. Because future hires are also included, the method can be referred to as the Modified Open Group method. The PFC uses outside actuaries for the valuation of the plan for funding purposes to ensure that the decision on the required Bank contribution is made on an actuarially sound basis. The Annual Report includes the Actuarial Results Valuation Letter from Buck Consultants. Table 1 included below from the letter from Buck Consultants presents the actuary’s valuation. Highlights from the table include:
Assets (adjusted based on five year moving average) at $16.7 billion, are well in
excess of (the PV of) benefits payable of $9.3 billion to or on behalf of retirees and
beneficiaries of deceased participants.
Taking into account the current benefits payable to existing staff and all other assumed
future benefits accruals from existing and (10 years of) new staff, benefits payable are
projected to be $24.4 billion. Netting out projected future contributions from existing and
new staff, the “funding gap” or expected required future Bank contribution is $4.9
billion, of which $2.7 billion is on account of existing participants (retirees and staff) 3and $2.2 billion for new staff.
To meet its requirement, the Bank’s contribution rate will be 18.98% of net salaries on a
level basis spread out over the service life of current and assumed future staff, assuming the
actuarial assumptions are met. This is the contribution rate determined for FY15 by the PFC
and approved by the Board for this year’s budget.
The contribution rate is 1.9% below that of last year. The valuation and determination of
the required contribution rate is based on the ensemble of actuarial assumptions. The largest
single factor driving the reduction in required contributions this year is the actual investment
returns that have exceeded the 3.5% real return actuarially assumed for the long term. For
this purpose, Plan assets are calculated on a moving five year-average, which has reflected
the above-target returns only with a lag. The calculation also reflects updated demographic
assumptions and changes in benefit design for the future that were approved by the Bank’s
Board in December 2013.
On a Closed Group basis, i.e. excluding new hires, the contribution rate would be lower:
17.04%. The fact that the Modified Open Group basis currently generates a higher
contribution rate than the Closed Group method reflects that funding for new hires is
expected to require higher contributions (at 21.76%) than for existing staff once assets on
hand are taken into account.
3 The reason that there is a future funding requirement for existing staff even though the “PBO funded ratio” is 1.00 is that the calculation of the future funding requirement includes benefits assumed to be accrued for future service while the PBO funded ratio refers to benefits that already have been accrued.
Page 18 1818 Pension Committee September 2014
Actuarial Assumptions The 2013 valuation incorporated changes in the design of the Plan (for future retirees), revisions to demographic assumptions based on a five-year experience study, and changes in economic assumptions recommended by the outside actuaries and approved by the PFC.
Plan design changes included expanded contribution possibilities for staff under the net
plan, expanded survivor benefits for domestic partners, revisions (downward) of the
grossing up formula for future service, and increases in the mandatory retirement age.
Changes in demographic assumptions based on experience over the past five years included
lower assumed salaries at most ages, revision of withdrawal and commutation rates,
reduction in rates of death in active service, and updates on age, sex, and salaries of new
employees
Page 19 1818 Pension Committee September 2014
Reduction in the assumed rate of long-term inflation from 4.0% to 2.5%.
The actuaries also reviewed and recommended no change in the key long-term real return assumption of 3.5%, using comparators and its own models. With the change in inflation assumption, the nominal asset return assumption was changed from 7.5% to 6.0% (See Appendix VI of the Annual Report) Overall Investment Performance Achieving investment returns that meet or exceed 3.5% real net of all fees and expenses at acceptable risk is crucial to the Plan’s meeting its objectives and avoiding the need for ever rising contribution rates from the Bank. As shown in the table below, the plan earned 8.1 net real in 2013, and an annual average of 8.3% net real over the past 5 years. These results are notably higher than the 5 year results reported in previous recent Annual Reports, as the 5-year time frame now excludes the steep market decline that accompanied the financial crisis in 2008. Over the longer time frames of 10 and 20 years, which include 2008 of course, the Plan’s annual investment return averaged 4.6 and 4.8 net real per annum. Investment performance reflects market developments, the asset allocation approved by the PFC, and the ability of the Pension staff to select managers and investments that meet or exceed the market benchmarks for each asset class. Overall, in 2013, the SRP returned 9.7 percent nominal, net of all fees and expenses (10.4 percent gross). This performance exceeded the short-term (weighted average) market benchmark by 0.5 percent. This is one measure of the value added by active management. See Table 4.1 and Figure 4.1 below for more details.
CY13 5-Year 10-Year 20-Year Since 1990
SRP performance (%)
Gross nominal return 10.4 11.2 7.7 7.8 8.4
Net nominal return 9.7 10.5 7.1 7.3 8.0
Excess net return over asset class
weighted benchmark 0.5 1.2 0.8 0.3 0.6
Net real return 8.1 8.3 4.6 4.8 5.2
Long-Term Real Return Objective
(LTRRO)
Excess net real return over LTRRO 4.6 4.8 1.1 1.2 1.5
Consumer price index (%) 1.5 2.1 2.4 2.4 2.6
Table 4.1: SRP Performance as of December 31, 2013
StatisticsAnnualized
3.5 3.5 3.5 3.6 3.7
Page 20 1818 Pension Committee September 2014
Performance by Asset Class The Plan is invested in a diversified portfolio that aims at optimizing risk and return, guided by an investment policy approved by the PFC. The key asset classes and target allocations at end 2013 were:
Fixed income strategies 26%
Cash 2% Nominal bonds 24%
Equity strategies 53%
Public equities 33% Private equity 20%
Real assets strategies (e.g. real estate, infrastructure, timber) 13% Absolute return strategies (mainly “market neutral” hedge funds) 8%
The Annual Report goes into considerably more detail on performance by asset class than previous reports. The key results for 2013 and for longer time periods by asset class strategies are summarized in the following charts from the AR:
6.2
8.3
4.6
3.5
4.85.2
5.6
7.1
3.8
2.5
4.5 4.6
3.5 3.5 3.5 3.5 3.6 3.7
0.0
2.0
4.0
6.0
8.0
10.0
3 years 5 years 10 years 15 years 20 years Since 1990
Perc
en
t (
%)
Actual return Benchmark return Long-Term Real Return Objective
Figure 4.1: SRP Annualized Returns as of December 31, 2013
(net of inflation and fees)
Page 21 1818 Pension Committee September 2014
Page 22 1818 Pension Committee September 2014
Pension Contribution Reserve Fund (PCRF) Under the SRP, the Bank is ultimately responsible for the payment of pensions, and the pension fund is the mechanism that provides assurance that the necessary funds will be available to pay pensions as the obligations come due. In FY2013 the Bank established a Pension Contribution Reserve Fund (PCRF) to provide the Bank with an additional mechanism to smooth the impact on the Bank’s budget of fluctuations in the required contributions to the pension and retired staff benefits plans (which covers the medical insurance plan). The Board sets a target percentage of 35% of net salaries for these contributions4, such that if the required contributions were less than that percentage, funds would be placed in the PCRF; conversely, if the required contributions were greater, the PCRF could be drawn on, once sufficient balances have accumulated. Since its establishment, the required contributions have been below the target, so that a balance in the PCRF is being built up. As the PCRF is not technically part of the SRP, it is not reported on in the Annual Report; nonetheless, the establishment of this mechanism may be seen as additional evidence of the Board’s continued willingness and ability to ensure the robust funding of the SRP.
4 In addition to the SRP, the PFC is responsible for determining the required contributions by the Bank Group to the Retired Staff Benefits Plan (RSBP), which funds the retiree medical and insurance plans, and the Post-Employment Benefit Plan (PEBP), which funds pensions not covered by the SRP. The total required and approved contributions rates (as a percentage of net salaries) to these plans in FY15 are 32.25%, of which 18.98% is the SRP, 7.95% is RSBP, and 5.32% is PEBP.
Page 23 September 2014
FROM THE EDITOR As promised, I am reporting on the proposed establishment of The 1818 Society World Bank History Thematic Group. I am happy to note that there are now eleven members of a core group, who are busy gathering possible topics to be subjects of presentations sponsored by the Thematic Group, to which 1818 Society members as well as current World Bank staff would be invited to attend. Please see the entry of The 1818 Society World Bank History Thematic Group in the "Thematic Groups" portion of this issue of The 1818 Society Bulletin for more coverage of this Thematic Group. If you are interested in participating, or if you would like more information, please contact me at [email protected]. On a further note of institutional history, I would draw your attention to the "Special Historical Supplement" portion of this issue. The "eArchives" of the World Bank Group Archives offers opportunities for electronic access to historical records of the World Bank Group that I believe would be of great interest to many 1818 Society members. Take a look! Chuck Ziegler, Editor
NEW MEMBERS
We welcome the following Bank Group retirees/alumni to The 1818 Society.
Country of intended residence other than the USA has been added after their names.
Achim von Heynitz Germany
Adolfo Rouillon Argentina
Aida P. Ustaris
Aloysius U. Ordu
Anis A. Dani
Carmela M. Lora
Chii P. Akporji
Christine I. Wallich
Cornelis P.E.M. Kostermans
Enid Cole
Gary D. Swisher
Hinh T. Dinh
Jeana M. Godinho Portugal
John S. Wilson
Klaus Rohland Germany
Laura Frigenti
Liudmila Melnikova
Marie-Helene Bricknell
Marline Alexis
Marshall Schreier
Merunisha Ahmid
Motoko Aizawa
Nadjib Sefta
Robert Kane
Roland Michelitsch
Sultan Najib Lutfi
Susanne Simader Austria
Syed Waqar Haider Pakistan
Sylvie Giroux
Valerie Kozel
Xiao Ye
Page 24 Events In DC September 2014
JOB OPPORTUNITIES
Job opportunities at the World Bank Group and other organizations are regularly posted on The 1818 Society’s website at: http://1818members.wordpress.com/job-opportunities/. The Development Portfolio Management
Group (DPMG) The Development Portfolio Management Group (DPMG) was created by former managers and staff of the World Bank Quality Assurance Group (QAG). Located at the Arlington office of the Center for Economic and Social Research (CESR) at the University of Southern California, DPMG is looking for World Bank Group retirees to include in its roster of experts for potential consultancy work. DPMG’s main objective is to help the broad development community get intended results from their economic development investments. DPMG clients include the governments of developing countries, development banks, bilateral donors, nongovernmental organizations, and foundations. More information on DPMG’s mandate and focus can be found in DPMG’s brochure at https://cesr.usc.edu/documents/Dornsife_DPMG_sngls.f.pdf). Additional information is available on the DPMG website: https://cesr.usc.edu/dpmg. DPMG is actively bidding on a number of development assignments and is always looking for Bank retirees to be included in its submissions. Many such assignments are not with the World Bank and could be an alternative source of employment for recently retired 1818 Society Members whose employment by the Bank is constrained by the
recently introduced cooling off period requirement. If you would like to be included in DPMG’s roster, please e-mail your CV to [email protected].
FUND-BANK SKI CLUB
It’s time to sign up for the following trips which are planned for the 2014/15 season: Season opener happy hour, Sept 17, 5.30-7 p.m., The Exchange, 1719 G Street NW December 10-16, 2014 - early season trip to Vail, Colorado. Trip leader: [email protected] January 17-24, 2015 - Steamboat Springs, Colorado. Trip leader: [email protected] February 6-14, 2015 - Zermatt, Switzerland. Trip leader: [email protected] March 1-8, 2015 - High season in Vail, Colorado. Trip leaders: [email protected] and [email protected] For further information, consult the club website www.fundbankskiclub.org, or [email protected].
EVENTS IN D.C. If you live in the D.C. area, or are visiting, we hope you will sign up for our interesting activities and visits in the D.C. area! Details are, or will be, posted on our website. An e-mail is normally sent to those living in the D.C. area by The 1818 Society office with the details of the planned visits. Please join us whenever you can!
Page 25 Volume 3, Issue 21 September 2014
1818 Society Responsibility Matrix 20113-2014
Name and E-mail Responsibility
Dir
ecto
rs
Adrienne Nassau, [email protected] Honorary Member, By-Law Revisions
Damian von Stauffenberg, [email protected] Pension Advisor
Eugene McCarthy , [email protected] Alumni Forum, Country/Linguistic Chapters, non-US Retiree and Country Office Retirees
Evangeline Javier, [email protected] RMIP, Medicare, Long Term and Life Insurance
Fernando Monte, [email protected] TBD
Hugh Henry-May, [email protected] Legal Adviser
Ines Garcia, [email protected] Credit Union matters, Retirement and Active Life Style Chapter, Social Events, Long Term Care
J Shivakumar, [email protected] Chairman and President, Retirement Seminars, WBCCF matters
Junhui Wu, [email protected] WBI and WB Network and University relationships
Lesley Shneier, [email protected] Knowledge management and C4D ; Links with other Retiree Organizations
Patricia Neill, [email protected] Retiree STC issues, Senior Professionals Program, Helping Hands program, WBFN co-operation
Sverrir Sigurdsson, [email protected] Thematic/Sector Groups, In Memoriam, 1818 Publications
Off
icers
Anjali Chadha, [email protected] Associate Secretary: Insurance
Catherine Lamb, [email protected] Secretary
Javed Hamid, [email protected] PFC Alternate
Jeffrey Katz, [email protected] 1818 Representative on Pension Finance committee
Kabir Ahmed, [email protected] Vice President: Retiree Medical Insurance
Kenneth Lay, [email protected] Vice President, Pensions
Marilyn Manalo, [email protected] Treasurer
Adrienne C. Guerrero, [email protected] Assistant Treasurer
Nadereh Chamlou, [email protected] Associate Secretary: Pensions, 1818 Representative on PBAC
Tom Blinkhorn, [email protected] Vice President: Networking
Ad
vise
rs Chuck Ziegler, [email protected] Editor: 1818 Bulletin, Convener Annual Meeting
Deane Jordan, [email protected] Tax, Estate Planning and Immigration Seminars, PBAC Alternate
Frona Hall, [email protected] Member Remembrances
Zafar Ahmed, [email protected] Speakers Bureau, Access to Bank information resources, Mentoring Programs
ARTISTS' AND WRITERS' CORNER
THE TREASURE: A Modern Rendition of Ghalib's Lyrical Love Poetry by Surinder Deol (New Delhi: Partridge / Penguin Random House, 2014). Ralph Russell, the British oriental scholar, has called Ghalib "one of the greatest poets South Asia ever produced and, in my view, the greatest poet of two of its greatest literary languages, Persian and Urdu." THE TREASURE presents Ghalib's entire poetical work contained in his Divan-e-Ghalib in American free verse. The book has received endorsements from several leading academics and Ghalib scholars. Dr. Gopi Chand Narang, the former president of India'a Academy of Letters (Sahitya Akademi) and Professor Emeritus, Delhi University, writes, "Ghalib was never so close to the Western reader as he is now with this work." According to Professor Shafey Kidwai of Aligarh Muslim University, "Ghalib is trapped in the quagmire of pedantic and listless translations. Surinder brings together his thorough grounding in Eastern poetics and acquaintance with the Western critical idiom to produce a revealing portrait of Ghalib’s creative world and his meticulously etched and scintillating translation is destined to blaze a new trail in Ghalib studies." Professor Francis Pritchett of Columbia University has called the work a "gallant attempt." Professor Aamir Mufti of UCLA has complimented Surinder Deol on making a brave attempt at translating Ghalib. He writes, "Wisely abandoning the possibility of word by word or line by line correspondence between the original and the translation, Surinder has opted instead for poetic integrity in English while trying to convey a broad sense of the mood and emotional and intellectual complexity of the original. These renderings read well in English and will give the uninitiated a wonderful introduction to this major poet of the Indian subcontinent." THE TREASURE is available on amazon.com internationally and on the FlipKart for the Indian buyers. This is the fourth book Surinder has published after his retirement from the World Bank. The previous three books were THE SUMMIT (a fable), A MOMENT IN THE UNIVERSE (poetry collection), and ENDLESS LIFE (a novel). The Summit Book Review by Barbara Murek Is there anything left to say about Bretton Woods and the establishment of the International Monetary Fund and the World Bank? The answer is a resounding yes. Ed Conway, currently the economics editor of Sky News and formerly the economics editor of the Daily Telegraph, has brought new life to the previous perception of a dry economic conference in the wilds of New Hampshire. His book is entitled The Summit. The major participants are like players on a stage, the play of which most likely will never be repeated. They meet every day in frequent heated discussions and in the evening they eat and drink together. World War II was raging. Henry Dexter White and Lord Maynard Keynes were determined to prevent World War III through the establishment of institutions whose goal was financial stability. Mount Washington Hotel in New Hampshire was the setting. Delegates and their assistants came from 44 countries. Five-hundred journalists appear daily as if to keep them company. There is even
Page 27 Special Historical Supplement September 2014
a magician, Cardini, to amuse the participants in the evening. And as the comic relief, there is Lady Keynes, once a Diaghalev ballerina, Lydia Lopokova. At one point she rummages in her cleavage to produce a missing door key. She tells Henry Morgenthau, U.S Secretary of the Treasury, that her husband cannot sleep at night for lack of even a sixpence. Ed Conway provides not only the backdrop to these Bretton Woods encounters, but also includes the history of the Versailles peace conference following World War I, which really laid the foundations for World War II. The relevance of the gold standard as a backdrop to the discussions, as well as the status of the dollar as the main reserve currency, is explained. Europe, and in particular Britain, would have to discover a way to climb out the black hole of debt imposed on them by the war. This was made even more urgent as their colonial empires would be vanishing. Would Lord Beaverbrook and the Bank of England recognize the demise of the imperial empire? And finally, would the United States, then the only economic super power, be able to take a major role in reconstruction? Would Congress agree? Edward Conway answers all of these and many more. What is particularly interesting about The Summit is the personal aspect rarely seen in discussions of economic theory. By the end of the book, the reader has become almost a participant in the three weeks of discussions, arguments, politics, and national prejudices. The pressure was great. Lord Keynes suffered a heart attack during the conference. In fact there were rumors of his death. And then there was Henry Dexter White, torn between the idealism of Communism and loyalty to his country. Bretton Woods could not happen today. The Summit, by Ed Conway
Paperback: 480 pages
Publisher: Little, Brown (May 29, 2014)
SPECIAL HISTORICAL SUPPLEMENT
In support of efforts to make materials on the history of the World Bank Group more widely and readily accessible, I post below information on the eArchives feature maintained by the World Bank Group Archives. I hope that many 1818 Society members, and indeed many members of the general public, will find the items there to be both interesting and useful. Chuck Ziegler Editor As a part of the World Bank's Access to Information Policy, updated in July of 2010, the eArchives
provides increased access to paper archival records of the World Bank Group. The objective of the
eArchives Project is to transform the World Bank Group Archives from a predominately paper-
based collection of materials to a modern, pro-active and innovative archive which actively pushes
content out to the public in a manner which engages and informs. This is being accomplished
through the digitization of key archival collections and posting of the records to the internet. Once
the records are online, users can browse by leveraging finding aids to discover digitized materials.
In what format are the digitized records available?
Page 28 Special Historical Supplement September 2014
We have chosen to provide access to our digitized materials as PDFs, with each folder of archival
materials corresponding with a single PDF. This ensures that all the documents within a single
archival file unit are kept together in their original order. We have created a standard cover sheet
which is the first page in every PDF which includes contextual information about the Fonds, Sub-
Fonds, Series and Sub-Series as applicable, as well as basic citation format and link to the eArchives
Terms of Use.
What materials are available?
Digitized textual materials can be found within the following finding aids:
Records of President John J. McCloy
Records of President Robert S. McNamara:
o Contacts - Member Countries files (52 folders)
o Subject files (67 folders)
o Executive Committee minutes (1 folder)
o Memoranda for the record (18 folders)
o General correspondence (28 folders)
o Chronological file (outgoing) (80 folders)
o IPA chronological file (outgoing) (21 folders)
o Chronological file (personal) (19 folders)
o Statements, speeches, and interviews (11 folders)
o Conferences, lectures and addresses (20 folders)
o Travel Briefings (19 folders)
o Daily schedules (27 folders)
o Presidential chronological files of economic adviser Irving S. Friedman (12 folders)
o Correspondence of Economic Advisor Hollis Chenery (3 folders)
In addition, we have a digitized audio recording of President McNamara's 1973 Nairobi Speech now
available online as well as short audio clips from each of the following oral histories:
Bradley Babson
Thomas A. Blinkhorn
Burke Knapp
Jochen Kraske
Anne Krueger
Bernhard Liese
Robert McNamara
Moeen Qureshi
Visvanathan Rajagopalan
Alex Shakow
Willi Wapenhans
Are any of the archival records withheld or redacted?
Archival materials identified for digitization are reviewed against the guidelines of the World Bank's
Access to Information Policy. Materials which may not be publicly disclosed are replaced by a
restriction notice indicating the Access to Information exception under which the materials are
withheld. Restriction notices are then digitized and included in the PDFs posted online. On rare
occasions, the images of the archival folders will include small gray redacted areas. This is done to
obscure administrative labels which include private information related to prior researcher access.
The eArchives web page is here:
Page 29 Traveller’s Tales September 2014
http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/EXTARCHIVES/0,,content
MDK:23252079~menuPK:8788599~pagePK:36726~piPK:437378~theSitePK:29506,00.html
You can copy and paste this web address in your web browser if you are reading this in the electronic version of the Bulletin. Alternatively, go to the World Bank's web site at www.worldbank.org; click on <About> at the top of the page; click on <History> on the left-hand side of the page; click on <Archives> in the last line of text; click on <Access to Archives Holdings> on the left-hand side of the page; then click on <eArchives> on the left hand side of the page.
TRAVELLERS’ TALES Editor’s note: This is the third of what we hope will be an occasional series of travelling tidbits from 1818 Society members. The idea is to present brief, light or humorous anecdotes about recent travels by alumni. Please submit to me at [email protected] with a date and a title. Chuck Ziegler, Editor
How Much Does a Bottle of Coke or a Deodorant Stick Cost? by Sithamparam Sengamalay
Since retiring from the Bank in 2000, I have narrated this story a few times at social gatherings with friends and acquaintances. As an Adjunct Professor of Accounting and Business Ethics for the past eight years or so at the Rockville Campus of Montgomery College, I tell the story to my students whenever the topic of “inflation accounting” comes up for discussion. I thought I would share this with our 1818 Society members, who of course are no strangers to such experiences. The year was 1972, and I had just arrived in the town of Kitwe in the relatively prosperous Copperbelt Province of the Central African country of Zambia as a newly recruited accountant in my late twenties to work in one of the subsidiary companies of the large state-owned Zambia Industrial and Mining Corporation (Zimco). Having owned a used and dilapidated sporty Triumph Herald car in my home country of Sri Lanka, where a basic consumer necessity such as a new car was unavailable even to me as a private sector mercantile executive, due to the long depressed state of the economy, Zambia seemed a consumer’s paradise. I went crazy looking at the countless makes and models of brand new cars displayed at the motor car dealerships in town. After looking around for a week or so, I bought a brand new turquoise blue VW 1300 Beetle car which met all my expectations as a bachelor. It cost me three thousand four hundred Kwacha (ZK 3,400), in the Zambian currency. The exchange rate then was around US$1.50 for 1 ZK. I used the car for the entire three years of my employment contract with Zimco, and sold it also for exactly ZK 3,400. The resale value of cars had shot up as the Zambian economy began to falter during the intervening years. I moved to Malawi, the neighboring country, in June of 1975 to work with the Press Holdings Group, another state-owned enterprise. Towards the middle of my employment contract with Press Holdings, I was recruited by the World Bank in early 1977 to work as Comptroller of the $30 million Bong County Agricultural Development Project (BCADP) in Liberia, West Africa. The project was funded by IDA, USAID and the Liberian government.
Page 30 Traveller’s Tales September 2014
At the end of my term in Liberia, which by then was beginning to be torn apart on the aftermath of the violent coup d’état of April 1980 staged by Master Sergeant Samuel Doe, I was selected to World Bank headquarters. I joined the East Africa Projects Department, Southern Agriculture Division (EAPSA), headed by Stephen Eccles, as a Financial Analyst in February of 1981. Sometime in 1985, I went back to Zambia, for the first time since my departure from there in 1975, as a member of the Bank mission that prepared a relatively large Agricultural Sector Credit to prop up the deeply ailing Zambian economy. Overall donor interest in Zambia happened to be high around that time, and representatives from as many as fourteen donor agencies wished to participate in the endeavor. The IDA team, inter alia, was responsible for coordinating the financing mechanisms among the various donors, which turned out to be a Herculean task. The bulk of the donor discussions took place at the Intercontinental Hotel in Lusaka, the capital, where the Bank mission and some other donor agency representatives also stayed. After an exhaustive first day of discussions, which ended around 8 p.m., virtually everyone was tired and hungry. While some, who knew the town, went out for dinner, yours truly and some Bank colleagues were eager to eat at the hotel restaurant and go to sleep. So, we walked briskly to the restaurant where a buffet dinner awaited us. I left my room key at the table we chose and began to walk towards the corner where the buffet was laid out. As I was very thirsty, I ordered a bottle of Coke with the young Zambian waiter who was standing near our table and went to collect my dinner. When I got back to the table with my plate of food, the waiter was pouring the Coke into the glass, ready for me to drink. As I was taking the first gulp, the waiter produced the bill and asked me for payment. When I asked him if it was okay for me to pay for the dinner and the drink together, he said that the beverages department at the hotel was separate from the food unit, and that I should pay for the drink straight away and pay for the dinner later. So I took my wallet from the back pocket, at the same time looking at the bill the waiter was holding right in front of me. I literally froze in shock as I saw the amount on the bill - three thousand four hundred Kwacha (ZK 3,400), the very same amount I had paid to buy a brand new car just ten years ago. I looked at the waiter, who sensed my discomfort by then, and asked him if the amount was correct and whether he had not made a mistake. He laughed and said he was sure and that that was the correct price for a bottle of Coke at the hotel. Gathering myself together quickly and managing a smile, I asked the waiter where about in Zambia he was from. He responded that he was from Kitwe in the Copperbelt Province. I told him that I lived and worked in Kitwe from 1972 to 1975 and that I had bought a brand new VW car for 3,400 Kwacha, exactly the same amount that he was asking me to pay for a bottle of Coke in 1985. I settled the bill with the waiter and as you can imagine, the conversation at our table with my Bank colleagues during the entire dinner session was about the amazing free-fall and the steep decline in the purchasing power of the Zambian currency, as well as those of so many other developing countries in the '70s and '80s. From the perspective of the World Bank and the International Monetary Fund, of course, the era of the new lending instrument called the Structural Adjustment Loans (SALs) and Credits (SACs) had just begun as a means to prop up the rapidly dwindling foreign reserves of several of our borrowers. I encountered a not so dis-similar experience in Brazil sometime in the 1989 time frame, when that country was experiencing an even faster free-fall of its currency, the Cruzeiro. I was then the Chief
Page 31 Traveller’s Tales September 2014
of the LAC/EMENA Disbursements Division. Accompanied by Roberto Barahona, the talented and experienced Disbursement Officer from Chile, I was on a Bank mission with the objective of inducing the Brazilian project authorities and the central government bureaucracy to expedite the draw-down on its relatively large portfolio of Bank loans, in order to augment the country’s meagre reserves. Roberto and I flew into Brasilia, the capital, fairly late one evening and checked in at the Hotel Nacional. When I woke up the next morning and while getting ready, I realized that I had forgotten to put the deodorant stick in my sponge bag. I got ready anyway, as we had an early morning meeting at the Ministry of Finance, hoping to buy a deodorant stick later in the day. However, while passing through the reception area, I saw the hotel shop located near the concierge and went in looking for the toiletries shelf. I found some Old Spice deodorant tubes on the shelf with the price marked at five thousand Cruzeiros (BRC 5,000) each, then the Brazilian currency. I took one tube into my hand and walked to the counter to pay when I realized that there was a long line at the cash register. Roberto then whispered to me that I could buy the deodorant when we got back to the hotel either at the end of the day or during the lunch break, as we had to rush to our meeting at the Ministry. So, I put the deodorant stick back on the shelf and we left the hotel. At the end of the morning meeting, we returned to the hotel for lunch, and I thought I would just walk into the hotel shop and pick up the deodorant stick. When I went to the shelf and looked at the Old Spice deodorant tubes, to my utter surprise, the price had been changed to six thousand five hundred Cruzeiros (BRC 6,500) each. Although I was taken aback at the sudden price increase, I took the tube into my hand and went to the cash register. When I inquired the clerk, she said that they updated prices on all items twice a day, once in the morning, again at noon. Apparently they had to do that to keep up with the severe inflation and the continuous drop in the value of their currency. Bank staff who worked in the LAC Region would recall the very high inflation rates experienced by Brazil in the 1980s and early 1990s and would also remember that the country cut three zeros from the bills at least twice and changed its currency several times to keep up with the steep and rapid decline in its value. During my tenure in the LAC/EMENA Disbursements Division, we encountered similar episodes of acute exchange rate dilemma in many other countries, including Argentina, Colombia, Poland, et al. It seemed that this phenomenon was almost universal in the developing world, and my own home country of Sri Lanka was no exception. When I left Sri Lanka in September of 1972, the exchange rate was three Rupees and sixty-five Cents (Rs. 3.65) to a US Dollar. The current rate is around Rupees one hundred and thirty (Rs. 130.00). As our members would attest, one of the uniquely enriching experiences of Bank employment is the professional role one plays in addressing problems such as inflation and currency devaluation in our client countries, but also feeling first-hand the impact of such problems at a personal level while being on missions. As Bank staff continue to grapple with such problems, we should wish them: Good Luck!
IN MEMORIAM
We regret to inform you of the following deaths based on information provided by the Pension
Administration Division. We extend our sincere sympathy to the families.
If you would like to post information about a friend’s memorial service or family contacts, you can
use the link http://1818members.wordpress.com/in-memoriam/ or go to The Society’s website
and click on the flower, on the upper right hand side. Look for In Memoriam, scroll all the way
down, and post the message in the comment section which will appear. Your information will
appear as the first item on the page.
Lorenza Arqueza, 84, of Fort Washington, Maryland, on July 20, 2014. Ms. Arqueza retired from the Bank Group in 1991. Tulio Barbosa, 73, of Brasilia, Brazil, on July 30, 2014. Mr. Barbosa retired from the Bank Group in 2003. Norma Campbell, 86, of Toronto, Ontario, Canada, on May 25, 2014. Ms. Campbell retired from the Bank Group in 1990. Muna Elkhudairy Faltas, 77, of Reston, Virginia, on June 14, 2014. She was the surviving spouse of retiree Nabil Charles Faltas. Giuseppe Franchini, 82, of Wheaton, Maryland, on May 30, 2014. Mr. Franchini retired from the Bank Group in 1998. John D. Harper, 81, of Selsey, Chichester Sussex, UK, on July 26, 2014. Mr. Harper retired from the Bank Group in 1996. Christina S. Hoedemaker, 84, of Nuenen, The Netherlands, on July 31, 2014. Ms. Hoedemaker retired from the Bank Group in 1990. Margaret June Horgan, 88, of Sandy Cove, Ireland, on July 8, 2014. She was the surviving spouse of retiree Maurice Horgan. Mary Ann Husband, 66, of Bethesda, Maryland, on June 26, 2014. She was the spouse of retiree Charles A. Husband . Sermin Fatma Konuk, 85, of Daire, Turkey, on August 2, 2014. Ms. Konuk retired from the Bank Group in 1984.
Page 33 In Memoriam September 2014
Marie Claude Lécharny, 71, of Chasteaux, France, on June 12, 2014. She was the spouse of retiree Philippe L. Lécharny. John Henry Lindt, 86, of Gaithersburg, Maryland, on June 18, 2014. Mr. Lindt retired from the Bank Group in 1990. Brenton Mccart, 101, of Plano, Texas, on August 3, 2014. He was the spouse of retiree Audrey Mccart. Boris Blazic Metzner, 70, of Haymarket, Virginia, on July 23, 2014. Mr. Metzner retired from the Bank Group in 1997. Henry Mitchell, 99, of Partlow, Virginia, on March 19, 2014. He was the spouse of retiree Marjorie Mitchell. Marjorie A. Mitchell, 98, of Partlow, Virginia, on July 5, 2014. Ms. Mitchell retired from the Bank Group in 1973. Louis Moussu-Rizan, 86, of Vienna, Virginia, on June 20, 2014. Mr. Moussu-Rizan retired from the Bank Group in 1989. Yoke Cheng Ng, 77, of Carlsbad, California, on August 11, 2014. Ms. Ng retired from the Bank Group in 1999. Edmond Andre Pagacz, 91, of Maussane les Alpilles, France, on July 30, 2014. Mr. Pagacz retired from the Bank Group in 1985. Yolanda Alicia Bucheli Pastor, 95, of Quito, Ecuador, on June 30, 2014. She was the surviving spouse of retiree Arturo Freire. Elinor Reamy, 94, of Rockville, Maryland, on August 6, 2014. She was the surviving spouse of retiree Michael Reamy. Sundaram Sankaran, 87, of Kensington, Maryland, on July 19, 2014. Mr. Sankaran retired from the Bank Group in 1988. Virginia Street, 99, of Longwood, Florida, on August 6, 2014. She was the surviving spouse of retiree Gordon Street. Ladislaus von Hoffman, 87, of Washington DC, on July 29, 2014. Mr. Von Hoffman retired from the Bank Group in 1977. Hisako Yamaguchi, 80, of Tokyo, Japan, on May 20, 2014. Ms. Yamaguchi retired from the Bank Group in 1993.
World Bank Matters
Alumni Essay Series September 2014 - Essay 08
Another (Disruptive) World Bank Reorganization
By Fritz Fischer5
I sympathize with the general concern about the recent reorganization of the World Bank Group as it was expressed in various articles of the last 1818 Bulletins. Without going into details about the present, I offer my personal explanation for the "reorganization phobia" of each new World Bank President at the beginning of his tenure. Although the Articles of Agreement for both institutions are identical for the Bank's President and the IMF Managing Director, the reform practice on the Bank's side contrasts sharply with the culture of continuity which distinguishes the IMF across the street. There it would not occur to the new Managing Director (coming from Europe up to now) to completely overhaul the institution at the beginning of his tenure. Instead, he (or she) would initiate necessary adaptive changes over time and in close contact with the Board. Instead, the World Bank culture since its inception is largely coined by the U.S. business tradition with a new CEO at the helm, especially when he is called to manage a troubled company. In such a case, he is expected to revamp the organization and fire many of its top managers while changing course dramatically. It is hard to understand why such an approach is also applied for the World Bank. After all, it is a well-functioning international organization, owned by 188 governments and not comparable at all with a company on the decline. Moreover, the Bank's President, although appointed by the Executive Board of member governments, once in office assumes a monopolistic type of power and considers his appointment as a mandate for far reaching reforms as he sees fit. It goes without saying that such a "culture" is by definition disruptive, both to staff and clients. It can largely paralyze the ongoing and worldwide activities for months until the "reform package" is presented and put into practice which, in turn, also requires a lengthy learning process. It is also costly when outside consultants are involved and many staff get a "golden handshake" to leave the Bank. Furthermore, it creates uncertainty amongst staff, nourishes opportunism amongst them, and leads to many internal working groups within an organization that has already a record of (too) many in-house sessions. Also, as a result of far reaching reforms, the credibility of former practices is questioned and undermined. To indicate the reform direction, new catchy terms are quickly invented, but they often
5 Mr. Fischer was German Executive Director of the World Bank (1991-1996) and also served as the Executive Secretary of the Joint Bank Fund Development Committee (1984-1987).
Page 35 World Bank Matters September 2014
camouflage the fact that the same concepts have been tried before. So at times, old wine is presented in new bottles with simply a different label on it. As a member of the Board in the early '90s, I was struck by the new official and much advertised awareness that the "Bank has to listen to its clients". This begs the critical question whether the Bank as a prime development institution should not have discovered this obvious and ownership-promoting necessity much, much earlier and not wait fifty years to flag it as a new insight. Equally, the wisdom of a new President to appoint two Vice Presidents for Africa, one on the spot and one at headquarters, was not generally shared and did not last long. In this context, and as another example of disruptive changes, another World Bank President fired so many people that whole important units, such as the Pension Department, became non-operational overnight. Another World Bank President, who expressly quoted the example of American private banks, felt fit to impose another layer of command on to the hierarchy of an already complex international organization. So five new positions of managing directors were created, directly reporting to the President and thus undermining the role and responsibility of Vice Presidents. Leaving aside the questionable tactfulness of the title, since the head of the IMF - residing on the other side of the street - bears the same title, this re-organization created more "generals" in an institution that had already too many. All in all, it is amazing that any new World Bank President - without knowing a multicultural institution with some 10,000 employees - assumes the right to revamp an international organization, and this with a minimum involvement of the Board. This then brings up the question how a different culture - as practiced by the IMF - could be followed in the future to avoid such obvious and disruptive shortcomings. Certainly, a more powerful Staff Association, as well as a stronger and united Board, could have a healthy impact, and so would one day a President coming from a different culture with a greater sense for continuity and gradual reforms over time. In any event, the present "reform business as usual" needs to be fundamentally modified in order to assure a much stronger element of continuity, both for dedicated, experienced and long-term employed staff as well as for clients around the globe. This is not to say that the World Bank should not adapt to changed circumstances, but this should be done in carefully integrated steps in order to avoid disruptions. In an age of growing competition and increased private donors, the World Bank would be well advised to change course in order to remain a center of excellence and predictability. All that it takes is a President who - new to the job - first observes and listens before carefully implementing partial reforms, rather than turning such a complex institution upside down right at the beginning. ************************************ World Bank Matters: 1818 Member Essays are short papers, around 1500 words, written from the member’s personal point of view and published by The 1818 Society. The views and opinions expressed within are the author’s and do not necessarily reflect the views of The 1818 Society. Comments may be forwarded to the author through an email to [email protected].
FY15 Community Connections Campaign
The World Bank Group is currently conducting its annual Community Connections Campaign, which raises funds for over 250 NGOs in the Washington metropolitan region. The FY15 Campaign runs from November 3 through December 31, 2014. The Campaign represents the most visible way that the World Bank Group gives back to the needy and less fortunate in the Washington community. The list of eligible Campaign organizations also includes many nonprofits that work in international development and relief overseas. In fact, about 80 organizations in this year's Campaign operate internationally. World Bank Group retirees are eligible to participate in the Campaign, and the organizations that you designate for your donation will get an added benefit of receiving a matching corporate contribution from the Bank Group. This year, if the Campaign achieves at least 55% staff participation on the online pledging system known as eGive, the World Bank Group will provide a 100% corporate match for all contributions designated to organizations that have been on the Campaign list for at least one year -- including for donations from retirees! That means that if you give $100 to a nonprofit, they will receive $200. If that target is not reached, the Bank Group still offers a generous 50% corporate match. You can pledge to the Campaign using the Pledge Form included in the Bulletin. On the form, you can designate your pledge to up to 10 the Campaign organizations. The list of eligible organizations and a digital version of the Pledge Form will be posted on the 1818 Society website (http://www.worldbank.org/1818/) before the Campaign begins on November 3. You can also choose to give to the WBCCF General Fund, which in the past couple of years has funded projects such as a medical clinic in an underserved part of Washington, DC and paid for renovations in a youth center. Your pledge must be paid by a check made payable to “World Bank Community Connections Fund,” or simply “WBCCF.” The check must be dated December 31, 2014 at the latest, and it must be received by WBCCF by no later than January 23, 2015. Please mail your check, and your Donation Form, to the address below. U.S. taxpayers may be able to take an income tax deduction for their donations to the Campaign. You should consult with your tax advisors regarding this added benefit. If you have any questions about the Campaign, please contact Ms. Caitlin Berczik, [email protected], (office) 202-458-9351. The World Bank Group’s Community Outreach team thanks you in advance for your generosity and support of the FY15 Community Connections Campaign! Please send a check to: Ms. Caitlin Berczik World Bank Community Connections Fund 1818 H Street, NW; MC-9-912 Washington, DC 20433
