|On April 27, 2005 Second Permanent Secretary to Her Majesty’s Treasury of the United Kingdom, Sir Nicholas Stern, delivered a lecture entitled “Making Development Happen: Growth and Empowerment” at the World Bank headquarters in Washington, DC. The event was part of the World Bank’s Presidential Fellows Lecture Series. Ian Goldin, Vice President for External Affairs of the World Bank, welcomed the speaker, the distinguished guests in the audience, and World Bank President-Designate Paul Wolfowitz, and introduced a video message from World Bank President James Wolfensohn.
In his video message, President Wolfensohn expressed his gratitude to Sir Nicholas Stern for his invaluable contribution to and involvement in development and urged the audience to read Stern’s new book, Making Development Happen: Growth and Empowerment.
Stern focused his presentation on the tremendous evolution in ideas that has occurred throughout the past decade and gave an overview of where this evolution has taken the development discourse. He emphasized that the development process is characterized by constant fundamental structural change and dynamic processes, and described how these changes have influenced the development agenda. He described the “two-pillar” development approach adopted by the World Bank that focuses on the importance of building a positive investment climate and on empowering and investing in people. Stern also spoke briefly about the Commission to Africa report and pointed out some of the significant challenges facing the continent that need urgent attention.
In his closing remarks, Ian Goldin thanked the distinguished speaker, as well as the audience, and stressed how important these dialogues are to the development discourse at the World Bank.