The fourth Annual Bank Conference on Development Economics in Europe was opened today in Oslo by Norway’s Prime Minister Kjell Magne Bondevik and the World Bank’s Chief Economist and Senior Vice President Nick Stern. Over 300 researchers from 44 different countries, predominantly from Europe and developing countries, gathered here today for three days of discussions under the heading of "Towards Pro-Poor Policies".

- We need informed debate and criticism to keep our edge and remain relevant. We are proud to host an important conference devoted to combating poverty and improving global development policies, said Prime Minister Bondevik in his opening address. Making reference to the football World Cup, he highlighted the importance of a level global playing field and the necessity of the multilateral institutions acting as referees, particularly in the area of trade.

In his opening remarks, Nick Stern said that the rich world spends USD 350 billion each year to subsidize its agricultural production, but USD 50 billion on foreign aid. - The developing world wants to and is able to compete in trade, but is being punished by both tariff and non-tariff barriers. Calculations show that with a strong move towards fairer trade, several hundred million people would be lifted out of poverty in the coming ten years."

India’s Murasoli Maran, Minister of Commerce and Industry, said that trade had helped his country’s economy grow after it opened up, and that the South was shedding its protectionist notions. - We now see the reversal of roles and the North is entering into the shell of protectionism for one reason or another – more notably for their self-centered reasons.

In the afternoon, the conference split into six workshops where researchers, MPs and civil society representatives from developed and developing countries engaged in comprehensive discussions. Only standing room remained in the workshop on the Poverty Reduction Strategy Papers (PRSPs) a Pandora’s Box? where discussion revolved around the experience with PRSPs, a new development tool placing the country in the owner’s seat of the development process. - New paths have been opened by the PRSP initiative. It offers a real opportunity of seeing changes in the nature of public policies and international aid, in a manner that favours development and calls on greater participation from citizens, said Mireille Razafindrakoto from the French Institute for Research on Development.

In the workshop on Development Economics and Ethics, Mozaffar Qizilbash from the School of Economic and Social Studies at the University of East Anglia referred to Amartya Sen and concluded that the recent growth of research at the borderlines of ethics and economics already has had a significant impact on development economics. But even so, much still remains to be done.

The conference will continue until Wednesday June 26, 2002.

The World Bank's website for the conference.