DATE=04/21/02

TYPE=CORRESPONDENT REPORT

TITLE=World Bank Wrap (S)

NUMBER=2-288969

BYLINE=BARRY WOOD

DATELINE=WASHINGTON

CONTENT=

VOICED AT:

INTRO: The World Bank concluded a meeting of its development committee Sunday with a new pledge to achieve universal primary education in developing countries. V-O-A's Barry Wood reports.

TEXT: The education initiative was endorsed by 24 finance ministers from rich and poor countries. Funding for the plan will be discussed at the world economic summit in Canada in June. It is expected that ten to 15 countries will participate in a fast-track effort to achieve quick results. The aim is to achieve universal primary education by the year 2015. World Bank president James Wolfensohn is delighted with the results.

/// WOLFENSOHN ACT ///

Without reservation, what I hoped to get today on education and on the fast-track I got.

/// END ACT ///

Estimates are that the education initiative will cost one-billion dollars in its first year and up to ten-billion dollars annually later.

Finance ministers were pleased with the improving global economic outlook. Despite increased trade tensions among industrial countries, there was little disagreement on most matters. (signed)

NEB/BDW/RH