Banking on it
Max Keiser investigates whether the World Bank really alleviates poverty.
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| Max Keiser investigates whether the World Bank really alleviates poverty |
This People & Power investigation comes as World Bank officials have called for the resignation of its president, Paul Wolfowitz.
He is under fire for allegations of inside favouritism – including approving a salary of £180,000 for his girlfriend Shaha Riza.
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He has hired Clinton’s lawyer to defend him, as he awaits his fate from the board set up to investigate him.
Just this week one of his closest advisers, Kevin Kellems, has announced his resignation.
Meanwhile, we scrutinise the organisation Wolfowitz heads, and its alleged domination by the US.
In 1947, the World Bank gave its first loan – $250 million for France’s post-war construction. Since then, it has grown to 185 member governments and provides loans and development assistance to poor countries, with the aim of poverty reduction.
While the bank’s clients are almost exclusively developing countries, the World Bank is controlled primarily by developed countries.
Speaking to aid and democracy experts, as well those receiving the loans, Max Keiser take a takes a colourful look at their reality.
The poorer countries certainly rely on these loans, but when it comes to alleviating their poverty, can they really bank on it?
Does it really help alleviate poverty? Max Keiser wants to know.
In a report for People & Power, he investigates the conditions that come with a World Bank loan. Can it truly be said that the World Bank is increasing poverty?
Power of One – Trevor Bayliss
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| People & Power meets the man behind the clockwork radio |
People & Power meets Trevor Bayliss.
What happens exactly when a man falls in love with himself?
In one particular case it was much more than the beginnings of a beautiful friendship.
In the case of Trevor Bayliss, inventor and self-confessed show-off, it meant the clockwork radio, an invention that is helping to educate millions of Africans about the risks of Aids.
One can only imagine how many lives he has saved through his remarkable invention.
Sue Ellicott went to meet him, and he shows us how one person can have the power to change the world for the better.
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This episode of People & Power aired from 09 May 2007
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Published On 14 May 2007