THE 1818 SOCIETYBULLETIN Volume 3, Issue 25 www.worldbank

Volume 3, Issue 29
March 2016
President: Inder Sud,
Office Managers: Miren Fernandez,
Swati Srivastava,
Office hours: 10.00am to 4.00pm, Monday-Friday.
Mailing Address: 1818 Society, P.O. Box 27388, Washington DC 20038-7388
Physical Address: MC-1 852, Main Complex, World Bank Group.
Use 19th Street entrance opposite the IMF building
World Bank Mail Stop no: MSN MC 1-104.
Telephone: 202-458-1956
Fax: 202-522-2417
Medical Insurance and Benefits :
HR Service Center
Ph: +1 (202) 473-2222
Fax: +1 (202) 522-2150
ALWAYS include your UPI
Pension Administration
Ph:+1 (202) 458-2977
Fax: +1 (202) 522-1723
ALWAYS include your UPI
Dear Members,
The Editor reminded me that it is time again to write a letter to members. My first reaction: has it
been three months already? So you see, time flies when you are having fun!
It has been indeed a busy three months with ongoing work on several fronts. The Board was
briefed by Ms. Sharada Sunder of the Pensions Department of the launch of the retiree pension
portal. I trust each of you have been notified of this and provided instructions on how to access
it. We are grateful to Sharada and her colleagues for this work. This has been one of the demands
of the retirees for some time and we are delighted to see it finally being launched. If you have any
difficulties in accessing the portal, please do contact the pension administration folks (see
“Contact us” on the login page). If you see any systemic issues and/or have any suggestions for
them, please keep the 1818 office in the loop.
A group led by Khalid Siraj is putting finishing touches to the “Handbook for Advance Planning
by Retirees and Families.” The current version is already on the web. Although none of us plans
to die anytime soon, we do recommend that you go over it with your possible survivor(s) to make
sure that both you and they understand the process. Some overseas Chapters plan to translate it
into their own language.
A new initiative that we have started is the launch of “Members Helping Members,” where
members facing specific issues may be able to tap knowledge/expertise of fellow members who
may have faced similar issues and/or have knowledge they can share. More details are elsewhere
in the Bulletin. I am grateful to Khalid Siraj and Paula Donovan, who have agreed to lead this
Pauline Ramprasad has undertaken to update the booklet on Retirement Communities that was
first produced in 2004. This will require a good deal of research, but I hope that we can have this
completed before year-end. Please do get in touch with Pauline if you can contribute to this work.
So that you don’t think that the Society is only preoccupied with morbid matters, I am delighted
that we have several ongoing and new initiatives to promote active lifestyles. You are already aware
of various overseas trips organized by the Society in the last 12 months. There are trips now being
planned for Iran, Spain, and Bhutan, and there may well be others if there are 1818 members who
wish to take the lead. We have also launched two new initiatives: an 1818 Hiking Club led by Anis
Dani and more recently, the start of Yoga classes led by Davinder Sakhuja. Both are off to a good
Finally, I am hoping that we will have a new and updated 1818 website up and running in the next
three months. This will be an important part of our continuing efforts to go fully electronic.
From The 1818 Society President’s Desk
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Our Health Insurance Committee, led by Ines Garcia, has also been hard at work, making sure
that we are consulted on all changes that are being proposed, and any impacts on our members,
including those of our members living outside the US, are always kept in the forefront of any
Finally, from time to time we get useful tips from Society members about something they found
useful and/or were not aware of. I have requested the Editor to share these from time to time as
he sees appropriate under the heading “Did You Know”?
I am often asked by friends and colleagues how I manage to handle my new job that must be very
demanding. The truth of the matter is that much of the work is really done by our very able staff
– Miren Fernandez and Swati Srivastava – and a group of dedicated volunteers. It is really their
work that keeps the Society running. Starting with this issue of the Bulletin, we will be highlighting
some of them, so you get to know the “real workers.” I hope to highlight some of them in each
issue of the Bulletin, starting with our two staff and two long-standing volunteers in this issue.
With best regards,
Inder Sud
President, The 1818 Society
Announcing a New Initiative of The 1818 Society
Hello there, wherever you are! We are very happy to tell you about a new initiative of our 1818
Society called Members Helping Members (MHM).
What is MHM? MHM is us—any of us who want to be involved.
What is MHM for? MHM aims to be a helpful bridge between members who need some help
or support and members who can supply some help or support. It is a two-way bridge: we can be
both helpers and recipients if we wish.
MHM’s focus is on 'basic self-care' support, connection, and information that can be provided by
willing volunteers. While some types of support have to be face-to-face, others can be by
telephone, video connection or email—so we can gradually build supportive links across different
locations, including members of those 1818 Society Chapters who wish to participate.
Until now, support for members have been facilitated by our wonderful 1818 Society office staff,
and we thank them for their superb support for this MHM initiative also. MHM seeks to establish
supportive connections that can be as inclusive and sustainable as possible, based on the active
participation of 1818 Society members.
What sort of help or support can MHM provide?
In general terms, we can offer our time, energy, life experiences, company, connections, special
interests, skills, or training. We can share information and connections in a more proactive way
than we currently do, especially with those having either minor or major life challenges. All MHM
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members are volunteers; we do not offer support as 'professionals' with 'expertise'. Rather, we
have life experience, interests, capacities, time, and goodwill that we are willing to share.
All support that we provide to each other is pro bono, and is not part of any business promotion
of any sort.
Of course, there are a few important ground rules to this MHM idea to ensure that it delivers safe
and effective results:
First, respecting confidentiality is essential. No connections of any sort will be made without the
express permission of each person involved.
Second, we will learn from experience elsewhere—the “village” concept in parts of Washington
D.C., and the outreach activities by the U.K. Chapter are just two examples of ongoing efforts
that can help us to learn by doing.
Third, we intend to direct members to services already available where possible, and to supplement
these services when we can.
Finally, no one size fits all. MHM will tailor and adapt based on feedback from participants.
What can I do to become involved?
1. Help us to assess needs. Whether you would like to offer support or receive support—or
both—or neither, please tell us if you think MHM is a good idea or not, and why? Also
please tell us (without names please) what sort of support you have provided to 1818 Society
members, or you believe 1818 Society members need. This information about ‘known needs’ will
help us to assess MHM’s starting place, as we seek to better support members.
2. To offer your support to MHM please also provide:
Your name; email addresses, telephone numbers, usual address, and other addresses if you also
spend significant time in other locations.
Please indicate some of the ways that you think you could offer support to other members.
Remember that this is a ‘start up’! We have no blueprint at all, and are very open to suggestions
and learning.
Examples below are only indicative, so please be as specific as you can:
I can drive in xxx location;
I can Skype or face time from xxx time zone;
I am fluent in the following languages:
I can visit someone who is living alone and would enjoy company;
I have some life experiences that could be useful to share with others. (e.g., widowhood or
other bereavement; caretaking chronic or acute illness of self or a family member; healthy
living—eating, sleeping, exercising etc; the challenges of living alone; aging across countries,
continents and languages…)
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 I would like to talk to someone about offering my support to MHM.
3. To Request support from MHM please also provide:
Your name; email addresses, telephone numbers, usual address, and other addresses if you also
spend significant time in other locations.
Please indicate some of the ways that you would like to receive support from other members. If
you have already received some support from members please tell us about this too. Remember
that this is a ‘start up’! We have no blueprint at all, and are very open to suggestions and learnings.
Examples below are only indicative. Please be as specific as you can:
 I cannot drive and would appreciate occasional transport around xxxx location;
 I would like help so that I could Skype or face-time from xxx location with other MHM
 I am fluent in the following languages xxx:
 I would enjoy visits from other 1818 members;
 I have some life experiences that are challenging for me right now and I think I could benefit
from support from MHM. (For example: widowhood or other bereavement; caretaking
chronic or acute illness of self or a family member; healthy living—eating, sleeping, exercising
etc; the challenges of living alone; aging across countries, continents and languages…)
 I would like someone to call me to talk about how I could receive MHM support.
Direct all communications regarding MHM to:
Email: In the subject line of your message please write: Members
Helping Members (MHM)
Call the 1818 Society office at 202-458-1956
Or write to: Members Helping Members, C/O 1818 Society, P.O. Box 27388, Washington DC
What will happen next?
We will review the responses to this initiative: offers, requests, questions and suggestions are all
welcome. We hope that you will provide your initial responses soon, so we can get a sense of the
level of interest in MHM.
Then based on your guidance, offers, and requests, we will decide on next steps.
We look forward to hearing from you.
Best wishes from the MHM launch group.
Co-chairs: Paula Donovan and Khalid Siraj
Members: Tom Blinkhorn, Sadia Chowdhury, Anis Dani, Evangeline Javier, Deane Jordan, Kees
Kostermans, William McGreevey, Pat Neill, Pauline Ramprasad, Lesley Shneier, Paula Stone
Chapter Events
The taxation of the Bank’s pension in Australia has been a major focus of the Chapter in 2015.
Unfortunately, the High Court of Australia decided to reject our appeal. The case has gone
through the legal system and this is as high as it goes in Australia. At issue was whether the tax
exemption of salaries and emoluments received from the specialized agencies of the United
Nations (e.g., IBRD, IFC and IMF) applied to the time when they were earned while officers of
the organization, or at the time they were received after the officer retired. The High Court found
that the exemption only applied while the officer was employed by the organization, and ceased
when the officer retired. This means that the Bank’s pension will continue to be considered a
foreign pension that is income tax assessable in Australia. The present situation is that the
Australian Taxation Office accepts that the Bank’s pension is an annuity, and that a part of it is
return of capital that is tax free and another part is income that is subject to income tax.
From a fairness point of view—not legally—this is in contrast with superannuation received from
Australian superannuation sources that have been income tax free for number of years. The case
must have had some merit as the Chief Justice of Australia and another judge of the High Court
decided earlier on that there was a case to be heard by the Court. At the time of writing, the final
settlement with the federal government on the question of legal cost of the case is still to be
For matters concerning the Australian and New Zealand Chapter please contact Jo. M. Martins,
at, Tel: 61 + 2 + 9973 3022.
The first annual meeting of the Brazil Chapter of the 1818 Society took place on December 17,
2014 at the Jockey Club in Rio de Janeiro. With so many colleagues spread around Brazil, the
group has been maintaining contact mostly via e-mail. A second meeting was held on July 21,
again at the Jockey Club. The Brazil Chapter welcomes spouses and former Bank consultants to
the meetings as well as Bank colleagues, still active or retirees.
Maria Teresa Serra (
The British Chapter is holding its spring reunion in Winchester from May 13-15, 2016. All 1818
members and their partners are most welcome. The reunion will be based at the Mercure Wessex
Hotel in the centre of this historic city. The programme includes a walking tour of the town,
including possible visits to the famous Winchester Cathedral and the Great Hall with the "famed"
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King Arthur’s Round Table. On Saturday, there will be a boat/coach trip to Queen Victoria’s
summer home, Osborne House, on the Isle of Wight.
Known as the "City of Kings," Winchester is the ancient capital of England, and once the seat of
King Alfred. Winchester is famous for its magnificent cathedral begun in 1079, and the venerable
Winchester College founded in 1382—England’s oldest public school. The picturesque area
around the Cathedral Green has changed little over the centuries. Of Osborne House, Queen
Victoria said, "It is impossible to imagine a prettier spot".
Further details and Booking Forms will be circulated in February. Contact Gillian Bannister,
Secretary, The 1818 Society British Chapter: for further information.
The Canadian Chapter welcomes new members. Any former WBG staff who have not joined are
welcome to contact Jim Smith at 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.
Life Certificates
Upon return from the summer vacation period, in late February, Chapter activities will resume,
starting with the traditional “Life Certificate & Coffee” gatherings to enable members to sign each
other’s witness forms for submission to Pension Administration. The first such meeting will take
place on February 25 at 10:30 a.m. at the Paul Restaurant at Isidora Goyenechea 3621, in Las
Condes, Santiago.
A second such meeting may be arranged in March at a place and time to be determined, for those
returning to Santiago later on.
Over the last year-and-a-half, three bouts of reforms were processed through Congress, leading
to a major Tax Reform enacted in January 2016, aimed at: (i) generating some 3 percent of GDP
in additional fiscal revenues, to finance social (mainly education) programs; (ii) increasing the
progressivity of the tax system to help improve income distribution; and (iii) aligning disclosure
arrangements by individuals and taxation levels of enterprises to FACTA standards and OECD
levels in 2017 and 2018, respectively.
The Chile Chapter tracked these changes through two meetings with a tax lawyer to facilitate
review of the implications for retirees living in the country, and to enable all members to prepare
themselves for the arrangements that are being put in place. Chief among them are: (i) the tax
obligations based on world-wide income, and an associated one-year (2015) partial amnesty to
regularize tax obligations from foreign sources; (ii) the partial move of the existing system from a
civil to some elements of common law, whereby emphasis is shifting towards the primacy of
substance over form in preparing tax declarations; and (iii) pursuant from the foregoing, the
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introduction of an element of judgment, particularly regarding practices that may be considered
as tax evasion or avoidance.
As the Tax Reform constitutes a major departure from past practices and does not provide clearcut criteria in dealing with the situation of Bank retirees, the legislation provides greater latitude
to the tax authorities to judge intent regarding tax declarations. Accordingly, the importance of
seeking proper legal advice to avoid, within reason, judicial contention, and taking proper account
of legal rulings and precedents was stressed. There has already been one case on tax avoidance
ruled by the Supreme Court, which starts setting criteria on how to interpret the new legislation.
Pablo Guerrero published a book as co-Editor, entitled Doing Public Good -- Private Actors,
Evaluation, and Public Value, which can be purchased in Amazon
 Vittorio Cobo published in El Mercurio (Santiago) on January 24 an article on "The Dark
External Scenario for Emerging Economies and Their Prospects
 Miguel Schloss published in a Sunday supplement of El Mercurio (Valparaíso) on January 24, an
article on “Climate Change: the Paris Agreement from Words to Deeds"
 Duncan Campbell and Gladys Grace were the subject of a full page spread in El Mercurio
(Santiago) on February 7 entitled “William Greenwood; Chronics of a British baqueano in the
Patagonia of the XIX Century” (the story of early settlers in that region)
 Miguel Schloss published a column in Diario Financiero of February 9 on “Corruption, How Are
We Doing?”
For past publications by Chilean Chapter members, please go to the Chapter’s website at
Seventeenth Annual Reunion, September 1-3, 2016, Breda
Breda is a city in the southwest of the Netherlands, more precisely in the western part of the
province of Brabant. The first written historical reference to Breda dates from 1125. In 1350, the
Duke of Brabant sold the Breda territory to Jan van Polanen. His daughter married Count
Engelbert of the house of Nassau in 1403. This is how Breda became the residence of the house
of Nassau—later Oranje-Nassau—the present royal dynasty of the Kingdom of the Netherlands.
From the 14th to the 17th century, Breda was a fortified city of political and military significance,
as it was a border town between the forces of the northern and southern parts of the Republic of
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the Netherlands. But after the 80 Years War—the Dutch war of independence—the House of
Oranje-Nassau left Breda, and while it remained a military city, its development stagnated.
However, in 1828 the Royal Military Academy was established, and in the second half of the 19th
century, Breda developed as an industrial center of the food and beverage industry. More recently,
barracks were abandoned and industry disappeared. Breda is now much more focused on the
service industry, and has become a center of education and a lively student town. Breda is well
known for its 15th century Gothic church, its military academy, its beautiful historic center, its
dense network of sidewalk cafés, and its southern atmosphere and hospitality.
We have made arrangements with the Golden Tulip Keyser Hotel in the center of Breda for
accommodation. The details of an interesting program are being finalized. It will include a tour of
the castle of Breda and the Military Academy, a boat tour of the city canals, and exploration of
the Nassau past of the city, as well as a visit to the museum, where the history of Breda is
presented. While the formal dinner will be in the hotel, we will have the other dinner in one of
the taverns around the main square (less than 10-minute walk from the hotel).
For further information and preliminary registration (pending full details end-March) contact Jan
ter Vrugt at or Robert-Jan van der Lugt at
Future Reunions (dates fixed, plans tentative)
2017 – August 31 – September 2, De Betuwe
2018 – August 30 – September 1, Texel
2019 – September 5 – 7 (20 years), Hart of Holland
A very exciting 2016 Chapter Reunion is planned for the Florida Space Coast, March 14-17,
2016 by Robin Broadfield. Time to join the group is now running out, but if you do wish to join
us, please contact Sandra Hadler ( to check on room availability. Please
note, we are delighted that Inder Sud will be joining us.
Full details are on the Florida website, but briefly, the reunion will feature a welcome reception,
two group dinners, day visits to the world-famous Kennedy Space Center, a guided eco-kayak tour
on the Banana River for the energetic (or a river trip for those preferring not to kayak), and an
educational visit to Port Canaveral, one of the Florida coast's major cruise embarkation points.
We will stay at the Inn at Cocoa Beach (, a boutique hotel on the
ocean with several good restaurants close by. Here’s one review of the Inn “Mornings at the Inn are always special! Follow the enticing aroma of our home baked muffins and
specialty breads to find a pleasant surprise beyond the French doors – expansive beachfront, 350
degrees of water sports, sun-splashed pool, a fully equipped exercise room, massage room, steam bath.
Too energetic? - just enjoy the spectacular views from your private balcony.
Cocoa Beach ( is one of east Florida's iconic surfing towns and
home of the famous Ron Jon surf shop. Besides the Space Center (,
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there are some wonderful beaches in the vicinity, plus golf, and several wildlife refuges for hiking
and bird watching. The weather in mid-March is typically warm and sunny.
If any of you have suggestions for future activities, would like to organize a lunch or an event in
your area, please email me and I will post on our web and/or email to the group.
We also very much look forward to welcoming all new 1818 Florida residents and any 1818
members who may be visiting Florida.
Sandra Hadler, Chair, Florida Chapter,
The Board of the French-Speaking Chapter met in Paris on January 12th as planned. The main
items on the agenda were discussed. Regarding the organization of conferences on development
topics in ESCP Europe Business School, the students being either in exams period or on holidays,
it has been difficult to organize them at the end of 2015. Plans are made for 2016. The General
Assembly will take place on March 24th in the Bank Office in Paris. It will be followed by a
presentation and discussion of the book Africanistan by Serge Michailof.
On February 9, Joëlle Le Vourc’h, President of the French Chapter, met Elke Kreuzwieser,
member of the German-Speaking Chapter, in Paris, in order to exchange information on the
organization of the 2017 meeting in Strasbourg (France) and the Alsace Wine Region. This trip
will be organized jointly by the German- and French-Speaking Chapters, and will take place in
September 2017. The exact date—either the first or second week end of September–will be
decided after coordination with the Dutch Chapter, as some members of the German-Speaking
Chapter would like to also attend the trip organized by the Dutch Chapter.
Information concerning the French-Speaking Chapter is available on the website at For additional information, please contact Joëlle Le Vourc’h at
Preparation of the 1818 Society German-Speaking Chapter's 2016 Annual Meeting, which will
take place between September 2 and 5 in Kiel, a lovely city on the German Baltic Coast, are well
advanced. Fritz Fischer and Nico Nissen, the organizers, have put together an excellent program.
All the information on how to get to Kiel, hotel accommodation and participation fees will appear
as of March 15 on the chapter website: 1818 Society members who are not
members of the German-Speaking Chapter are welcome to join the meeting, as well as sign up on
the Chapter website.
The German-Speaking 1818 Society Chapter now also has its own website at
Interested 1818 Society members can register. The website is bi-lingual: German and English.
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The Iran Chapter met on December 11, 2015 for a presentation on the state of Iran’s economy
by Mr. Martin Cerisola, Assistant Director, IMF. Mr. Cerisola led the preparation of IMF’s
recently-completed Article IV Consultation report on Iran, which was discussed at IMF’s Board
on December 7, 2015.
Some 30 Chapter members and guests participated in the conference including IMF’s Executive
Director for Iran, Dr. Jafar Mojarrad, and the Senior Adviser to the World Bank Group’s
Executive Director for Iran, Dr Farhad Nili. The discussion was of considerable interest to the
participants, given the critical challenges the country currently faces and the expected significant
improvement in Iran’s economic performance as the result of removal of sanctions. The
presentation was followed by extensive exchanges of informed views focusing on the country’s
growth potential and related policy framework.
If you need any further
The 9th annual meeting of the 1818 Society Japan Chapter was held at the restaurant Tohri
(Chinese cuisine) of New Takanawa Prince Hotel Tokyo on July 24, 2015 with 24 participants.
After the normal reporting of activities during year 2014-2015 and the approval of budget for year
2015-2016, a guest speaker, Mr. Masato Kanda, a Ministry of Finance official currently seconded
to Financial Service Agency as Deputy Commissioner for International Affairs and former
Alternate Executive Director for Japan at the World Bank, gave his observations on “Present
global economic/financial situation”.
As Japan Chapter’s membership rules are more liberal than The 1818 Society’s rules in terms of
eligibility, we always welcome new members. Please contact our administrator through e-mail: for details.
The Japanese and English language version of the Japan Chapter’s web homepage can be found
at http// For further information and/or details, the contacts in
Japan are: Ms. Y. Okamoto, Director, at; and Mr. H. Hamaguchi,
President, at For the Washington, D.C. area, contact Mr. K.
D. Kikuchi, HQ Liaison at
The 1818 Society is organizing tour groups to Iran in April-May 2016, Spain (Basque country) in
May and September 2016, and Bhutan in October 2016. For more information see the
corresponding weblink on the 1818 Society homepage
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Now Available On Our Website
A revised version of the Handbook for Advance Planning by Retirees & Families (previously called,
Handbook for Survivors of World Bank Group Retirees) is now available on our website. The revised
version and its title underscore the fact that advance planning for our inevitable, eventual end of
life can prevent many problems that survivors would otherwise face, and also simplify their very
difficult tasks. To that effect, the revised Handbook exhorts us to think and act ahead, and it
provides useful information to help us to do this. Of course, the Handbook is a 'living' document,
so suggestions, questions, and comments are encouraged and can be addressed to
NOW AVAILABLE! Appointments for HR Operations Services
WBG retirees can now schedule appointments for services offered by HR Operations. Pre-booked
appointments save time by providing guaranteed time slots that don’t involve any waiting time.
To book an appointment, please use the WBG’s HR website. Appointments are available for faceto-face services in Washington, DC or via telephone worldwide. Please note that scheduled
appointments can be changed or cancelled as necessary.
HR Operations will continue to provide face-to-face services without appointments on weekdays
between 10:00 AM and 1:00 PM on a first-come, first-served basis. If you have any questions,
please send a message to
Sharada Sundar and her team introduced the Bank’s new Retiree Portal to the 1818 Board. The
Portal is a secure way for all Bank staff and retirees to access information related to the Bank’s
pension plan. The access point can be found at It will allow all
eligible users to access general information about the pension fund, as well as user-specific
information about their pensions for the past five years. This includes the Monthly Pension Pay
Stub, the Pension Certificate Letter, the Life Certificates, the 1099R Tax Form, the Cost of Living
Notification Letter, and the Annual Pension Payroll Statements. A letter announcing the launch
of the retiree portal along with a step by step instruction on how to access the portal was sent to
all retirees together with the Life Certificate earlier this year. The pension team encourages retirees
to access the portal at their convenience.
Last Call!
By popular demand, a second trip to Iran has been organized. The dates are April 26-May 9th (14
days). The tour will begin in Shiraz, and move on to Yazd, Isfahan, Kashan, Tehran, with a unique
experience of spending a night in a desert caravansary. The price per person is US$2,940/for
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double occupancy, and US$3,870 for single occupancy (around US$210/day/person for doubles
and US$275/day/person for singles).
The fare covers room in best available hotels, all meals, airport transfers, well-informed Englishspeaking guide, entry ticket to all sites, and on-the-ground transportation by luxury bus. (Please
note that the rate does not cover in-out airfare, and any other airfare inside Iran). As the previous
time, the trip is organized by an experienced tour operator. A fellow Iranian 1818-member, Ms.
Ferial Galadari (formerly with IFC) will accompany the tour. Please contact her: at
Disclosure: Due to recent visa waiver changes (HR158), citizens from visa waiver countries, who
previously entered the US without a visa, are now required to obtain a visa if they have traveled
to a list of countries that includes Iran. This regulation was passed as a security measure in the
wake of the San Bernardino attacks. It does not impact American citizens, green card holders, or
citizens of countries that required a U.S. entry visa anyway. The experience with citizens from visa
waiver countries, who traveled to Iran and who subsequently applied for a visa, is that they
received a 10-year multiple entry visa. Counterpart visa-waiver countries have so far not
announced any reciprocity vis-à-vis American citizens. And, negotiations are under way to remove
this requirement for Iranians and those traveling to Iran, since no Iranian national or traveler to
Iran has ever committed a terrorist act in the US or Europe.
There is only one trip left in the Club’s 2015/16 itinerary: March 5-12, 2016 Big Sky Montana and
Yellowstone. The trip, which is now full, is being led by Van Pulley.
It has been a very successful year for the Club and has included the following:
November 5-19, 2015 - Hiking trip to Mexico’s Copper Canyon—trip leader: Frona Hall
December 9-15, 2015 - early season skiing in Vail, Colorado—trip leader: Frona Hall
January 22-31, 2016 - European ski trip to Andorra—trip leader: Anneli Sexton
February 5-12, 2016 - Snowmass, Colorado—trip leader: Nathalie McGregor
The club website is undergoing remodeling and should be up and running soon. Keep an eye on
it for pictures from our trips and news of upcoming trips
More Volunteers Needed
Dust off your hiking shoes and let’s hit the trail.
The enthusiastic response from many members to the local hikes has led to the establishment of
an 1818 Hiking Club. Membership by retirees has grown rapidly and more than 120 members
have joined the club. The club organizes day hikes on the trails, mostly in Virginia and Maryland,
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and occasionally in the District of Columbia. The hikes are half day or all day outings, with 3-5
hours of actual hiking.
The 1818 Hiking Club is not limited to retirees but gives preference to our members and their
families. We organize at least one day-hike every month. On longer or more strenuous hikes, we
include an option of a shorter hike to cater to the varied needs of our members.
Four hikes have been organized in 2015 – to Maryland Heights at Harper’s Ferry; Great Falls Park,
MD; Greenbrier State Park, MD; and Sugarloaf Mountain, MD. Group sizes are growing, the
largest being 23 so far. One more hike is planned in March to the Three Falls Hike in Shenandoah
National Park. We are seeking volunteers to help run the 1818 Hiking Club and experienced hikers
to help organize our hikes.
If you are interested in joining the hiking club or in volunteering to help plan and organize hikes, send an email to
Anis Dani (
We are delighted to report that 1818 Alum James Bond was awarded the Légion d’honneur in the
French end-of-year honors list for 2015. This honor is accorded by the French Government for
merit in the service of the nation. When asked, James said that it was "no doubt because of my
name". We are certain that it was because of the excellent work he did at the Bank and as part of
the start-up team on the Green Climate Fund, work he has engaged in since his retirement from
the Bank. Congratulations, James from all your colleagues.
This is the first installment of what is planned as a regular feature in "The 1818 Society
Bulletin" of helpful tips contributed by 1818 Society members. Whether there is a second
and subsequent installments depends on YOU, so keep your tips coming! Send them to
the Editor at
 T-Mobile offers Bank pensioners the standard Bank discount on T-Mobile monthly bills,
which runs about 15 percent of the bill's total - including all lines on the account, including
family, if one can produce a copy of one's annual pension statement from the Bank. Andy
 Credit Union now has mobile banking app available and functional. It allows you to deposit
checks remotely. It also has a very useful feature of “alerts” that you can set for matters like
low balances, deposits, etc. This feature was apparently also on the On-line banking, but I
never knew this. Anonymous
 You can claim your Medicare premium reimbursement up to three years back. Ines Garcia
Page 16
March 2016
Chapters & Thematic Groups
ANZ – Jo. M. Martins,
Brazil – Maria Teresa Serra,
British ― Nicki Marrian,
Canada – Jim Smith,
Chile – Miguel Schloss,
Florida ― Sandra Hadler,
French-Speaking – Joelle Le Vourc'h,
German-Speaking – Franz Kaps,
India – Vaikalathur Ravishankar,
Iran Chapter (DC) – Mohammad Farhandi,
The Netherlands – Robert Jan van der Lugt,
Japan – Harutaka Hamaguchi,
Agriculture and Rural Development Chapter
Shawki Barghouti,,
Jitendra Srivastava,
1818 Economists' Chapter
Norman Hicks,
Education Group
Sverrir Sigurdsson,,
Larry Wolff,
Energy Group
Eugene McCarthy,
Gender and Development Chapter
Nadereh Chamlou,,
Dominique Lallement,
Global Finance Chapter
Rene Costa,
Governance Thematic Group
Vinay Bhargava,
1818 Society WBG History Thematic Group
Chuck Ziegler,
HNP Group
Kees Kostermans,
The Social And Environmental Chapter
Anis Dani,,
John Redwood,
Transport Chapter
Graham Smith,
Maria Margarita Nuñez,
Urban and Water Group
Edouard Motte
Page 17
March 2016
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.
Send your feedback and suggestions to with issues you would like
the Chapter to share with members of The 1818 Society.
The Economists' Chapter met on January 20, at which time Shahid Javed Burki, former Vice
President for LAC and former director of the China Department, shared his views on “The Global
Economy Under Stress.” This discussion drew on his forthcoming book Adjusting to Global Change:
Challenges for the World Community of Nations.
Additional seminars are being arranged. Tentative topics include the recently released WDR 2016
on the “Digital Dividend”, the recent evaluation panel review of DEC, and a speaker on the recent
Global Climate Change agreement. Announcements will be made when dates are firm. The
chairman is open to suggestions for additional topics.
Chapter Chair Norman Hicks can be contacted at Members are encouraged—
indeed, urged—to send names of potential speakers who they feel will have the capacity to
enlighten a highly-knowledgeable—and engaged—audience.
On January 13, the Education Group had a lively discussion on the subject of “Value for Money:
What do developing countries really get from participating in international assessment programs?”
led by Marguerite Clarke, the Bank’s Senior Specialist responsible for learning assessments.
Marguerite described current trends in international assessments, the extent to which these
assessments have impacted on quality and learning, and the experience of the Bank in encouraging
the use of learning assessments in developing countries. There were 14 in person attendees, half
of them regular Bank employees, as well as six virtual attendees. The Bank’s Education
Department graciously helped with setting up the link for the virtual participants.
The subject matter led to an animated live and on-line discussion on whether and how
international assessments can have an impact on learning. The record is very mixed, especially
among low and middle income countries, which may lack the human and financial resources to
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Thematic Group Events
March 2016
reform curricula, teacher training and teacher classroom behavior based on test results. A
promising trend is the development of assessments which are better tuned to the levels of
achievement in poorer counties.
Marguerite’s PowerPoint, as well as comments on the subject by seven education group members,
can be found on the 1818 website—go to “Thematic Groups,”
“Education Sector,” and “Education Sector Papers.”
At least three Education Group members (Helen Abadzi, Steve Heyneman, and Larry Wolff) will
be making presentations at the annual conference of the Comparative and International Education
Society to be held in Vancouver, March 6-10.
The Education Advisory Group invites its audience to propose speakers and topics at future
events. The Group consists of: Sverrir Sigurdsson (,
Marlaine Lockheed (, Eluned Schweitzer (,
Larry Wolff (, Michael Mertaugh (,
Eduardo Velez (, Susan Hirshberg (,
Jee Peng Tan (, and Steve Heyneman (
Happy New Year to all our members and supporters!! The recent heavy snow storm could be a
reality check on Climate Change, and an early warning to us to be recognizant of the form, type
and global pattern of energy consumption.
During this year we plan to address some of the following energy topics:
 World Bank Group (WBG) Lending in Energy
 Oil and Gas sector-- the impact of current trends in oil and gas prices on the overall global
economy, finance and political stability, particularly in oil-exporting countries; and also the
future of the fracking industry, and whether the Bank should have a role in promoting fracking
by lending to its member countries where the technology is viable.
 Energy (Power) Development-- the new challenges and opportunities in promoting access
to power in developing countries; (ii) the status of power development in Africa; and the
significance of renewable energy resources in promoting rural electrification and efficiency in
energy utilization.
 Climate Change and Carbon Pricing- World Bank Group's role in promoting awareness
of climate change and in the establishment of appropriate mechanism for carbon pricing and
the Green Energy Fund;
 Nuclear Energy for Power:- The type and form of new investments in nuclear energy for
power development, including a critical review of the Iran Nuclear Non-Proliferation
Agreement); and potential of thorium as a future energy fuel;
 Food Versus Fuel—Promotion of biofuel in competition for land utilization for food
 Country Energy Strategies—review of energy development strategies of several countries,
including India and China.
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Thematic Group Events
March 2016
We realize that this is not an exhaustive list of interesting topics/issues in the energy sector. We
would appreciate receiving suggestions on issues (and speakers) to be included for discussions.
We are planning at least two presentations before end-June. The first—in mid-February—will be
a 'look back' at the recent Paris Climate talks by a three-person panel comprised of Dana Younger
(IFC), James Bond (MIGA), and Joshua Meltzer from Brookings. We intend to arrange another
presentation before end-April, which will take a critical look at India's energy development
strategy. In the meantime, we continue to seek appropriate speakers (within and outside the WBG)
for most of the above topics.
For information about activities of the Energy Group, please contact
Mike Gillette (, Mohammad Farhandi (,
Akin Oduolowu (; Eugene McCarthy (;
Alain Barbu (; Istvan Dobozi (; or
Hal Wackman
On the occasion of March 8th, the International Women’s Day, the Gender and Development
Thematic Group has the pleasure to invite interested 1818 Members to a guided tour of the
National Museum for Women in the Arts.
Time: March 8th (between 11-2pm) will be finalized later.
Cost per person: Members US$6, Seniors US$10, non-members US$12.
Maximum: 25 guests.
Please pre-register with Dominique Lallement ( and please
indicate if you are a member or non-member.
For suggestions and comments, please contact: Nadereh Chamlou at,
Dominique Lallement at and Mark Blackden at
In the course of the last few months of 2015, our Chapter organized a series of interesting events.
On November 5th, we had the pleasure to welcome Kyle Peters, Senior Vice-President,
Operations, of the World Bank Group. His presentation followed a series of talks we had in the
past two years with former and present WBG senior managers, including Jim-Yong Cai, former
Executive Vice President and CEO of the International Finance Corporation (IFC), Bertrand
Badré, Managing Director and CFO of the World Bank Group (WBG), Gary Perlin, former
Managing Director and CFO of the WBG, and Michel Wormser, former Vice President of the
World Bank's Multilateral Investment Agency (MIGA).
Kyle praised the effort made by the WBG to follow up on conclusions of the September 2015
WBG-IMF annual meeting in Lima, particularly regarding environmental decisions and more
generally the implementation of the Sustainable Development Goals in a particularly worrisome
global economic context. He also explained progress made in the realignment of directorships in
Page 20
Thematic Group Events
March 2016
the institution, the consolidation of global practices, and the increasing level of debates amongst
the WBG shareholders. We shared his concern about the unsatisfactory performance of the WBG
in terms of revenues and high costs, despite good levels of commitments and disbursements.
Finally, we agreed that the losses of top managers and highly qualified staff continue to be one of
the main internal issues of the WBG while, at the same time, its competitiveness may rapidly erode
in a global financial and development environment every day more challenging. A more complete
Note on this perhaps too optimistic presentation, written by John Nellis, our Co-chairman and
Senior Adviser, Public Administration and Finance, is presented elsewhere in this edition of the
Our relationships with the IMF was further enhanced with a presentation by Zeine Zeidane and
Ananthakrishna Prasad, respectively Principal Adviser and Deputy Division Chief in the Middle
East and Central Asia Department, on "Islamic Finance." Our speakers explained that Islamic
finance has grown rapidly, even though it is still a small share of the global finance market. The
Islamic Banking segment has increased its penetration in many IMF member countries,
particularly in Asia and the Middle East, while the global issuance of Sukuk—the Islamic
equivalent of bonds—is expanding with remarkable speed.
The essential message Zeine and Anan brought to us is that Islamic finance has the potential for
further contributions in a least three dimensions. First, it promises to foster greater financial
inclusion, especially of large underserved Muslim populations. Second, its emphasis on assetbacked financing and risk-sharing features means that it could provide support for small and
medium-sized enterprises, as well as investment in public infrastructure. Finally, its risk-sharing
features and prohibition of speculation suggest that Islamic finance may, in principle, pose less
systemic risk than conventional finance. An IMF Staff Discussion Note on Islamic Finance:
Opportunities, Challenges and Policy Options, available on the IMF Internet Site, will give details on the
evolution and perspective of development of this promising segment of the global financial sector.
Last but not least, we held our second anniversary of the creation of our Chapter in November
2013 with a lunch at the Metropolitan Club in D.C., superbly organized by Wolfgang Schaefer, our
Co-chairman and Senior Adviser, Private Sector and PPP on December 17. The attendance was
excellent with representatives from other sectors.
We had the pleasure to welcome Inder Sud, our new 1818 Society President. As expected, he gave
to us his first impressions as President, stressing that he had been impressed with the dynamism
of all Chapters and Groups, as well as by the dedication of volunteers playing an important role
in the administration of the Society and in the organization of special events. Regarding our
Pension Fund, he stressed that, in his opinion, the Fund had been well managed and that no worry
should be raised on its commitment to the payment of our pensions.
This reunion was an excellent opportunity to briefly comment on our Chapter achievements in
2015 and promising continuation in 2016. Wolfgang was kind enough to offer to all attendants a
visit of the Club. Indeed, the Metropolitan Club is one of Washington's oldest and most valued
private institutions. Since its founding in 1863, at the height of the Civil War, it has pursued its
primary goal of furthering "literary, mutual improvement, and social purposes.
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Thematic Group Events
March 2016
Information on the Global Finance‘s program of activities and feedback on presentations of
meetings is available on our Chapter Section in the 1818 Society Internet site. You may also
contact either: René Costa, Chairman (, or John Nellis, Co-chairman and
Senior Adviser, Public Administration and Finance (, or, Wolfgang
(, or Jed Shilling, Chairman and Senior Adviser,
Economic and Trade (, or Catherine Kleynoff
The Governance Thematic Group organized an event in December 2015 where Ms. Yongmei
Zhou, Co-Director of the WDR 2017 made a presentation on the upcoming World Development
Report 2017—Governance and the Law. The presentation discussed questions such as "Why
Governance and Law Matter?" "What Forms of Governance?" and "Governance for What?" The
presentation was well attended, and a lively discussion took place.
Thanks and best wishes.
Vinay Bhargava on behalf of the Core Group of Volunteers
The purpose of The 1818 Society World Bank History Thematic Group is to foster greater appreciation for and
understanding of the history of the World Bank Group, its successes and failures, and the staff who have served it.
On December 3rd, Jochen Kraske—the World Bank's first and, so far, only historian, and a
founding member of the History Thematic Group—spoke on the work of the Historian’s Office
and the major efforts to record the Bank’s history after 25 and 50 years, and what should be done
in the future with regard to the World Bank's history. He noted:
"My brief involvement in the historical work related to the Bank persuaded me that this is a
function that needs to be performed systematically, if only to bring into focus the often abrupt
changes which occur as the leadership of the organization changes . . . The Bank remains an
organization whose service to its members is constantly evolving. It is guided by a framework of
principles but its actions are shaped by the demands of its clients. The workshop “Using History
to Inform Development Policy,” organized two years ago, provides many examples which
illustrate the relevance of historic research to the Bank’s work. It also presented in the keynote
address by Devesh Kapur an excellent digest of the 50-year history and a well-focused diagnosis
of what ails the Bank today."
A summary of that workshop can be found here:
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Thematic Group Events
March 2016
Mr. Kraske's presentation can be read here:
On February 17, the History Thematic Group co-sponsored along with the Urban & Water
Group, the Transport Chapter, and the World Bank Group Archives a panel discussion on the
topic “World Bank’s Engagement with Transport in Cities: The Early Years 1972-1982”. The starting
point for the discussion was a presentation by Slobodan Mitric, based on his recent research of
various sources including holdings of the World Bank Group Archives into the beginning of the
Bank’s urban transport program. The research is a joint history of ideas and practice in this field.
Ideas are those contained in the 1975 document Urban Transport – Sector Policy Paper, the first-ever
comprehensive review of urban transport issues in developing countries and of a Bank strategy to
address them. The practice is reflected in some 15 investment projects approved by the Bank in
the first decade of the program, featuring such initiatives as traffic management, support for cityor state-owned providers of public transport services, direct focus on poverty, and congestion
Slobodan has spent his entire professional life working on the subject of transport in cities. He
retired from the Bank in 2003 as a Lead Urban Transport Specialist, after 25 years in active service
that combined project and sector work in several regions, as well as policy development.
The moderator for the panel discussion was Denis Robitaille, Director, ITSOC; the panelists were
Maryvonne Plessis-Fraissard and Christine Kessides of The 1818 Society; and Georges Bianco
Darido, Lead Urban Transport Specialist, GTI02.
Slobdan's PowerPoint slides and a video recording of the session is posted on the 1818 Society's
web site.
If you are interested in joining this Thematic Group, or have suggestions for topics and
presenters, please contact Chuck Ziegler, History Thematic Group Coordinator, at
Chuck Ziegler
Coordinator, 1818 Society World Bank History Thematic Group
On December 4, 2015, the HNP Chapter together with the Alzheimer Support Group of The
1818 Society organized a very well-attended seminar on the latest developments in the prevention
and treatment of Alzheimer’s disease. A presentation was made by Dr. Raya Kheirbek who
specializes in geriatric medicine and is Deputy Chief of Staff at the Veterans Affairs Medical
Center in D.C.
Dr Kheirbeck explained the basics of the disease: how frequent it is (more than 40 million people
suffer from it world-wide, and the number is increasing rapidly), how it develops, and the
symptoms. Unfortunately, there are very few really promising developments in the prevention or
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Thematic Group Events
March 2016
treatment of Alzheimer’s. A general healthy and active life style, which is good for many reasons,
may also help in preventing, delaying or slowing down progression of the disease.
Given the great interest in the event, the session was recorded, and you can find a link to it on
The 1818 Society’s website, together with the PowerPoint presentation (look under “webcasts and
For information on the Social and Environmental Chapter contact
( or John Redwood (
As planned, at the Transport Chapter's November lunch, Robin Carruthers gave a very
informative presentation on the expected impacts of the Panama Canal's enlargement, as well as
some thoughts on the talked-about Chinese initiative to excavate a competing canal across
Mid-January saw the Bank's annual two-day transportation forum, attended by a large audience of
Bank staff, Transport Chapter members, and many non-Bank visiting specialists. It was timely for
digesting the conclusions drawn by December's global conference in Paris on climate change and
the resulting agreement among the world's governments on how to respond.
For mid-February, the Chapter is co-sponsoring a presentation by member Slobodan Mitric on
the Bank's early lending and policy initiatives for urban transport.
Graham Smith's planned talk on high-speed rail will now take place on March 15th lunch.
Chapter members have also expressed interest in field visits to transport-related sites or companies
in the greater Washington area, in the spirit of earlier such visits to the corporation managing the
HOT lanes on the Virginia portion of the Beltway and I-95, and expansion of the Metro. Members
with such proposals are invited to contact the co-chairs Graham Smith
( and Maria Margarita Nunez (
In parallel to our traditional sessions with technical presentations, the Coordinating Committee
will organize an informal social meeting on April 1 (indeed!) of all U & W retirees who wish to
meet and exchange informally. This time Amir Al-Khafaji ( is the focal
point for this D.C. area event.
Also, we are pleased to report the Global Practice for Water has no objection to have retirees
attend this year’s Water Week; the event is scheduled for end-March-early April, without precise
dates at the time we are going to press.
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Thematic Group Events
March 2016
For the benefit of our members outside the D.C. area, we arranged for the presentations at our
last two meetings to be video-taped: “Converting Wastes into Energy” by Vijay Jagannathan, and
“World Bank Engagement with Transport in Cities; The Early Years 1972-1982” by Slobodan
Mitric. Links to the tapes are available on the Society’s website under “Thematic Groups”. Vijay’s
presentation is in the water sector section, and Slobodan’s in the Transport Sector section. Both
presentations were co-sponsored.
We are always happy to welcome visiting retirees coming to Washington D.C. and having
exchanges with them, whether formally through presentations or informally. The new contact
person is Edouard Motte (
In The 1818 Society, we all know that we have a President, Board of Directors, and Officers.
However, much of the important work of The 1818 Society is carried out by those not often seen
or recognized, but who are indeed deserving of our gratitude, for without them, many of the
services that we take for granted would be impossible to implement. As the editor of this
publication and Coordinator of the 1818 Society World Bank History Thematic Group, I have
had many good reasons to be grateful for their efforts! So, I am happy to be able to offer some
brief sketches of some of these hard-working and dedicated people, written with great modesty
by themselves. More of them will be recognized in the next issue of The 1818 Society Bulletin.
Chuck Ziegler
María, Miriam, Mariam…..they're all the same, as is Miren, the Basque name for “Mary”, where
my grandparents were from. I am a native of Mexico, but have lived in Spain for most of my life.
Although I try to go to Mexico to visit the extended family, my parents and siblings take me back
to Madrid whenever possible. Our children live in different countries and yes….I do have
grandchildren as well.
I have been working at The 1818 Society since May 2009. I have not worked at any other unit of
the Bank, and my previous experience always has been in the private sector in Spain. My work at
the office is to be your connection with the Bank: answering your questions; organizing seminars,
gatherings and cultural events; and trying to give you the support for any activity that you want to
organize and share with other 1818 Society members.
Since everybody is called by their first name, and there are no hierarchies, working at The 1818
Society has given me the opportunity of meeting a lot of interesting people and knowing about
your origins and different backgrounds. Mainly, I have the opportunity to learn through you.
Learning can be enriching, but people are always the sap of life, so I consider myself very fortunate!
I always say that I work with the people who know most about the Bank, but with less stress than
when they were active staff!
We love to see you by the office, come and visit us!
Page 25
From The Editor
March 2016
I am the other half of The 1818 Office and am from India and moved to the US in July 2007. I
am professionally trained in Organic Chemistry but have spent more than 15 years of my
professional career either in teaching or in the field of information technology and people
management. I have a 22 year old daughter and an 18 year old son (and of course a husband
working for the Bank!!!).
In my previous life, prior to my relocation here, I was a principal of a kindergarten school and a
counselor to parents with young children. Coming to DC was never a part of my plan, and my
husband’s sudden offer to relocate was initially upsetting, but the opportunity to live in a new
country as well as to learn and enjoy the different environment got me here. I have always been
passionate about people from various walks – their lifestyle and culture, their precedence, their
daily miseries and challenges, as well as their pursuit of hope and happiness. While living in Delhi,
a large chunk of my time was spent in helping poor women through education, communication,
persuasion and advice, such as in better financial planning; standing up against discrimination;
making right choices about child education; and releasing poor people from huge debt traps of
money lenders.
After moving to DC, I trained as a Web design professional and got involved with volunteering
full time with the World Bank Family Network (WBFN) as an executive committee member and
also as a member of the Margaret McNamara Education Grants’ selection committee. I started
working at The 1818 Society office in 2010. I enjoy using my web and design knowledge for the
1818 website and also all the fliers and publications that we have. With my experience in project
coordination, education, website management and graphic design, I have enjoyed my current role
in office coordination, managing logistics, communication and organizing large events focusing
on diverse themes.
I love interacting with the members here as every day I get to learn something new and I never
know how the day will end!
As a way of introduction, I am Bettina Foggiano. I am Italian and Swiss. Before joining the Bank,
I worked in Switzerland for 13 years as a medical assistant for private doctors. My main
responsibilities included laboratory examinations, typing reports, developing x-rays, arranging
appointments, etc. At the same time, I was working for one year and a half in the evening towards
my diploma as medical assistant.
I joined the Bank in 1970. I started in the Communications Division as an assistant. Before retiring
in 1988, I was an administrative assistant in the Brazil Agriculture Division, East Africa Region.
In 1998 I moved back to my hometown, Domodossola in Piemonte, where I spend four months
a year. Domodossola is a small town of about 20,000 inhabitants, surrounded by mountains. It’s
a challenging place for hikers. I spend the rest of the year in Washington D.C.
I became a member of The 1818 Society. When I retired, I was looking for a way to stay connected
both with the Bank and my friends. The 1818 Society offered me that opportunity.
Page 26
From The Editor
March 2016
I come to the 1818 Society office almost every day to help out in several ways with the day-to-day
administrative functions. The 1818 Society receives many queries from its members. For example,
members are looking for a friend member’s address/email. Members are asking how to access
Society data, the World Bank bulletin board, The 1818 Society Bulletin, not least, how to enroll in
I also help with processing new memberships; there is also filing to do, as well as collecting the
office mail from the post office, and other office tasks.
For variety, occasionally, I help the Book Project office.
How I Came to the World Bank
I was born in the Year of the Monkey in the 1930’s, in a farming community in the outskirts of
Fukuoka, the main city in the Southern Island of Kyushu, Japan. I don’t remember much about
my father who was drafted, sent to China, and died there at age 36, when I was only six. He left
behind his widowed mother, my mother, and five children: my older sister, myself, two younger
sisters, and a brother, who was only a baby. One can imagine the hardship that my mother had,
losing her husband and having to raise five young children. Things were desperate during WWII
and got even worse in the immediate years after the war, when all of Japan was destitute.
Fortunately, while Fukuoka was burned down by US air raids, as were virtually all other major
cities of Japan, our house in the country-side was spared. But food was scarce, and starvation was
a possibility. I remember my mother hauling what soil she could carry from the hills, so we could
grow sweet potatoes, pumpkins and other vegetables to keep us alive. I remember eating the stems
and leaves of sweet potato plants because we could not wait for the potatoes to get big enough.
How my mother managed, I can only guess with gratitude, but by the time I graduated from high
school, I couldn’t stand all the talk of “arranged marriage” coming my way, so I went to Tokyo
for a new life on my own. I followed a friend’s good advice and learned how to type, and also
learned English, which was the language of the US Occupation who ruled Japan until 1951. I had
good jobs with trading companies, including an Italian one. My work was in Nikkatsu Hotel
Building (now the Peninsular Hotel), which was in the heart of downtown business district, and I
had my own apartment within walking distance. By mid-1960’s, I had enough money to travel
overseas, and one day in early 1972, I saw a World Bank advertisement for positions at its
headquarters in Washington, D.C. The World Bank’s Tokyo Office, which had opened a few years
earlier, was only two blocks away from my office. I filed my application, was interviewed, and was
I reported to work in July 1972 as one of over a dozen Japanese secretaries hired that year. My
first boss was Mr. David Bruen in the Education Projects Department. I spent most of my career
with the Education Projects Department, other than a few years with the Africa Country Programs
Office. Those were the days when the Bank held huge Christmas parties at the Wardman Hotel,
with Mr. and Mrs. McNamara greeting everyone who came. But that would be another long story
to cover the more than 20 years I spent as a Bank staff.
Page 27
From The Editor
March 2016
How I started to volunteer at The 1818 Society
When I retired, Shirley Boskey, President of The 1818 Society at that time, asked me if I would
like to volunteer. I said yes, and since 1996 I have been processing the applications for new
members. I always share the job, and I enjoy what I do.
The "World Bank"
By Chuck Ziegler
We all refer to the institution of which we are alumni as the "World Bank." But when it opened
for business in 1946 it was known as the "International Bank for Reconstruction and
Development," a name it still retains as a member of the "World Bank Group." So, how did it
become known as the "World Bank"?
One possible clue is contained in a "Remembrance" of William L. Bennett by Harold Graves
(both of whom worked in what was then known as the Public Relations Department) found in
the July/August 1998 issue of The 1818 Society Newsletter. In it, Graves refers to John Darby, a copy
editor of the old New York Herald Tribune, and attributes to him "the invention of the term World
Bank to get around the impossibility of getting the name of the International Bank for
Reconstruction and Development into a headline one column wide." A plausible story!
Editor's Query Answered!!
Readers may recall that your editor wondered in print concerning the fate of the World Bank Stamp Club, which
had been a fixture of World Bank life for more than 50 years. His sincere thanks goes to John Vincent-Smith
and Nimrod Raphaeli, who kindly provided not only information on fate of the World Bank Stamp Club, but
opened the door—perhaps just a crack—for the possibility of a renaissance.
The (Late) World Bank Stamp Club . . .
By John Vincent-Smith
For almost 50 years the Stamp Club was indeed a popular and active presence in the Bank. When
I arrived in 1977, the Club must have had at least 60 paid-up members. Around two-thirds of
these were generally inactive; for them the attraction of membership lay in receiving twice yearly
a free packet of stamps culled from the Bank's substantial, worldwide incoming mail, almost all of
which was in those days liberally franked with postage stamps. No doubt these packets were often
passed on to family or friends. Once the mail was opened and distributed, the Mail Room
graciously allowed a handful of volunteers armed with their Bank-issue scissors to cut up the
empty envelopes and haul away their philatelic booty, on an almost weekly basis. In return the
Mail Room always received a Christmas gift of good cheer.
The more active members of the Club, i.e., the collectors, held regular small auctions, both "live"
and using written bids, usually during the lunch hour, which before the invention of "doing more
with less" actually meant something in the daily schedule. Older stamps were purchased by Club
officers from outside sources to lend variety to these auctions, and members could also make up
their own "private lots" for sale. Twice a year the Club organized keenly anticipated parties,
Page 28
From The Editor
March 2016
featuring displays, silent and "live" auctions, and an excellent array of refreshments. These were
very enjoyable occasions, bringing together members from across the Bank, as well as spouses
and retirees.
It is fair to note that the guiding nucleus of the Club was for at least two decades located in the
English Translation Section of the then Language Services Division, part of GSD. However,
membership was quite broad, and included senior managers, such as V.P. Warren Baum, Nicholas
Carter, and others. The eventual and inevitable retirement of the stalwarts of the Club, the
dwindling use of stamps on the mail, and many other changes in the Bank that tended to make it
difficult for staff to find the time for "distractions", all contributed to a slow decline in active
membership, and by the late 1990s the days of the Club were clearly numbered. It was wound up
around the year 2000. The remaining assets were donated to the American Philatelic Society, in
memory of Eric McMillan and (a little later) Nick Carter.
. . . And a Possible Renaissance?
I used to attend the Stamp Club's meetings which had come to an end perhaps as long as 20 years
ago (I retired in 1997). I believe the person who managed the Stamp Club had passed away. If
someone is willing to take the initiative to reconstitute the Stamp Club, I will be among the first
to attend. And, as an expression of gratitude, I will present for auction, for the benefit of the
"new" Stamp Club, a large official envelope addressed to Mrs. Barbara Connable [sic], President
of the World Bank.
Nimrod Raphaeli
If anyone is interested in reconstituting the World Bank Stamp Club, please contact the editor at, and he will act as a collection point for expressions of such interest. In the meantime,
please find below an article from the January 1955 issue of "International Bank Notes" on stamp collecting in
the Bank.
by Leopoldo Cancio
Every day bulky and valuable mail, thickly covered with stamps of the highest denominations,
reaches the World Bank from all parts of the world. For this reason, working for the Bank
becomes doubly attractive to the staff member who is a philatelist. Sooner or 1ater, because he
has enrolled in the Bank Stamp Club or by other means, the staff member will lay his hands on a
mail wrapper studded with twenty-baht Thai stamps or ten-peso Uruguayan airmails which will
send an intense philatelic thrill up and down his spine. The World Bank is an ideal source of these
colorful stickers originating in its 57 member countries—and in many non-member countries
too—and the together with amount of mail franked with stickers are avidly sought out by the 80odd stamp-minded persons in the Bank.
The Bank generously hands over the stamps from its mail to our Bank Stamp Club, which
periodically distributes them to the persons on its rolls. The Club has active members and
beneficiaries, the latter interested only in the stamp distributions. The active members, in addition
to participating in the distributions, are also willing to use additional efforts in other philatelic
activities. The stamp distributions have been, at times, the source of headaches among the Bank
philatelists. The supply of one-pound, ten-peso and thousand franc stamps would practically have
Page 29
From The Editor
March 2016
to be inexhaustible to keep everybody—including the writer—happy. Anyone who has seen an
airmail envelope covered with fifteen one-pound Rhodesia stamps feels frustrated and thwarted
if the best stamp in his distribution envelope is a tom U.S. ten-center. A supreme effort is, of
course, made by the Club to achieve a fair distribution of the stamps, and to see that each person
gets at least a "prize" item, but sometimes you just cannot please every member because there are
not enough "prize" stamps to go around. However, if you wait long enough, opportunity
eventually knocks at your door and your collection benefits at last from the long-sought item.
Incidentally, I wish to remind non-philatelic staff members of the Bank that the Club would
welcome, with gratitude, stamp contributions from their private mail.
Together with the colorful stickers, the Bank receives a large amount of mail franked with those
philatelically-hated time-and-money saving devices called postal meters. The Bank uses them on
its outgoing mail and has at times received "official" complaints from philatelists abroad because
of its indiscriminate and un-philatelic use of these devices. At one time, the Bank's Paris Office
used stamps, but now it has adopted the modern technique, thus preventing us from enjoying the
sight of those miniature chefs-d'oeuvre of the engraver's art: the thousand-franc French airmail
stamps. There is a growing fear in the philatelic world that postal meters may eventually deal a
death blow to our hobby. Before that happens, however, we shall all continue to enjoy the
wonderful pastime of kings and presidents, the collecting of these fascinating tiny bits of paper
which conjure in our imagination such wonderful pictures of historical events, romance, travel,
adventure, and . . . even of currency and postal rates and economic inflation in the case of the
more prosaic minded collectors.
We welcome the following World Bank Group retirees/alumni to The 1818 Society.
Country of intended residence other than the USA has been added after their names.
Jocelyne Albert
Rachid M.Ghozall
Tamar Manuelyan Atinc
Lilibeth R. Hocson
Mary Eunice S. Barroso
Ron N Hoffer
Fresia Betancourt
Farrukh Iqbal
Melvina Clarke
Jean Marie Jacobson
Luis Arturo Crouch
Robin Kambe
Marjorie Dobson
Olympia Koskinas
Maria M. Rodrigues dos Santos
Bobo Lu
Sophia Drewnowski
Gwendoline McCave
Chantal Foiret
Annie Minazi
Page 30
New members
Amerette Elizabeth Minott
Atish Sanyal
Nancy Louise Pinto
Trevor Somasundaram
Maureen Pradhan
John Hugh Stevenson
Manorama Rani
Mohankumar Sundaramoorthy
Dennis Reyes
Evalyne Buijten Tandon
Joyce Rompas
Ogba Tseghai
Maria Isabel Ruiz-Galindo
Sylvia Castro Vidal
Houria Sammari
Barbara J. Walker
March 2016
Lilian M. Samson
One frequently-heard lament from Society members is that, once retired, it is difficult to obtain information concerning
what is going on in the World Bank, especially in the fast-changing and challenging environment in which the World
Bank now finds itself. It is therefore a great pleasure to be able to publish an account of a presentation by Kyle
Peters, Senior Vice President, Operations, at meeting last November of the 1818 Society Global Finance Chapter.
The editor wishes to express his sincere thanks to John Nellis, who prepared this report of Mr. Peters' remarks,
and to Rene Costa, the Chairman of the Global Finance Chapter.
Whither the World Bank?
On November 5, 2015, Kyle Peters, Senior Vice President, Operations, of the World Bank spoke
to a very well-attended session of the Global Finance Chapter of The 1818 Society. In his frank,
wide-ranging presentation, Mr. Peters touched on three sets of issues:
1. The evolving and worrisome global economic context in which the Bank’s borrowers now
find themselves, the resulting new pressures and demands on the Bank Group, and the steps
the Bank is taking to respond to the altered context;
2. The dynamics of the Bank’s “authorizing environment,” i.e., the increasing level of debate
among Bank shareholders, management and the broader development community concerning
the ongoing “shareholder review,” and a more appropriate allocation of effective “voice”
among the member states; and
3. The ongoing internal “realignment” of the institution.
The Global Context
At the recent Annual Meetings in Peru, Mr. Peters encountered considerable anxiety among the
borrowers concerning the elements of the current near-global slowdown, e.g., much slower
growth than normal in China, the end of quantitative easing and the uncertainty around interest
rates, the fall in commodity prices, and the fall in capital inflows to developing/emerging markets.
The fear is that this next or current economic phase will be more prolonged than the crisis of
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Special Presentation
March 2016
2008-10, and that its negative effects will be more heavily centered (than the previous crisis) in
developing countries/emerging markets. The borrowers are already looking to the Bank and the
IFIs in general to prepare for substantially increased demands for financial, institutional and
knowledge support.
At the same time, the IFIs are expected to make substantial contributions to climate change
financing in support of “lower carbon growth path” initiatives. These IFI efforts will help fulfill
the commitment (made at Copenhagen, in 2009) to transfer from rich to poor countries, by 2020,
$100 billion US each year to help offset the costs of adaptation. The donors also expect the IFIs
to assist on policy and institutional support on climate change within the affected states.
While acknowledging the great importance of the climate issue, Mr. Peters noted that global
approaches such as this, with their “stress on commitments ex ante,” require some extra effort to
be integrated into the Bank’s traditional country-by-country approach. In contrast, the demands
arising from the adoption of the new Sustainable Development Goals (which replace the
Millennium Development Goals in 12/2015) “cover a lot of ground friendly to the Bank’s
traditional mode of operation.” Here, and again with regard to demands to respond to the massive
needs in infrastructure rehabilitation and new investment, 1 there is an easier fit with the Bank’s
country support model.
The implication of this first section was that more and ever-larger demands are coming to the
Bank. Bank staff and management will be challenged to keep up with the needs of their clients. If
management and staff had hoped for a comparatively tranquil period in which to consolidate and
implement the changes from the realignment, they are most unlikely to get it.
Issues of ‘Voice;’ shifts in the ‘authorizing environment’
Mr. Peters thought that the shareholder review underway in 2015-16 would produce an even more
vigorous discussion/debate on the long-standing, vexing question of Bank governance: What
should and could be a more reasonable division of authority between Part I and Part II countries?
Following the modest reapportioning of recent years, the Part II countries now possess 47.19
percent of voting shares on the Bank’s board. 2 Few if any Part II member states’ representatives
are content with the allotment, and many observers in the broader development community
support their insistence on a larger voting role. Mr. Peters’ stressed the acute difficulty of resolving
this issue, since the fracture lines are not simply between Part I - Part II countries but, as well,
between Part I-Part I, and Part II-Part II states. “Friction is inevitable,” he said. Devising a
suitable solution will be a key test for management and shareholders in the coming months.
Only slightly less demanding is the question of what next for IDA? Across the board, the principal
IDA donors – the US, Japan, and the northern European states -- are facing enormous budget
The financial needs in infrastructure are staggering. To cite a single example: In 2013, the Bank endorsed the
goal that by 2030 there would be “universal access to energy and safe household fuels,” a doubled level of
renewable energy, and a large increase in energy efficiency. Mr. Peters noted that the estimated costs of
achieving these goals require, in each year between the present and 2030, $1 trillion US in energy investment
over and above the existing level.
2 The NGO “Bretton Woods Project” claims that after the reforms of 2010, the “78 countries actually eligible
to borrow from IBRD will have only a third of voting power (34.1 per cent);” while in IDA “High-income
countries still have over 61 per cent of the votes, middle-income countries have under 28 per cent, and lowincome countries have only 11 per cent. The very countries that IDA is meant to serve have the least
representation.” (Bretton Woods Project, “Analysis of World Bank Voting Reforms,” April, 2010.
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Special Presentation
March 2016
pressures. In particular, the European states are confronted with acute internal pressures – already
politicized – to apply some, if not all, of their aid resources to cover the costs of the massive
inflow of refugees from the Middle East, Afghanistan and Africa. Past levels of IDA contribution
could be threatened.
In these circumstances, said Mr. Peters, the search is on for new ways to tap resources for IDA
clients. One idea, still very much embryonic, is to securitize the net present value of forthcoming
IDA repayments, and perhaps issue bonds that would leverage the IDA balance sheet. Such an
initiative would have to be very carefully studied and managed.
Re the financial side of IBRD, there is yet another serious concern: the persistent low-interest rate
environment has contributed to a situation in which IBRD revenues are below expenses and have
been for a few years. The solutions are equally obvious and equally problematic: Increase prices
and thus revenues, cut costs further than anticipated, or make a case for Bank expansion and a
larger capital base.3
Mr. Peters discussed the push to revise and update the safeguards process, and the contentious
dilemma that results. On the one hand, some shareholders and many interested external voices
call for the rigorous application of existing safeguards, and the expansion of the safeguard system
to new areas; Mr. Peters cited labor, especially child labor protection, rights of Indigenous Peoples,
and anti-discrimination of the disabled among those under review. On the other hand, there are
pressures to prioritize, simplify and speed operations, and render Bank products more competitive
in the increasing number of borrower countries where the Bank is now but one of several
alternative financing sources. This leads to a “complicated discussion” around balancing these
The ‘realignment’
Given the hue and cry that has accompanied management’s efforts to, yet again, restructure the
Bank, Mr. Peters knew he was in for some hard questioning on the issue. He thus led off this
section by stating his, and management’s, set of key objectives. First, the previous organizational
approach needed revision. There was a need to return to some sort of revised “global matrix.”
He noted that the Bank had not reorganized since 1997 – and that the need to adjust had built up
over the intervening years. For example, the Bank needed to connect the global agenda on health
with the health work carried out in its various country departments. Second, one had to enhance
the capabilities and quality of management; the past system was deficient, especially in ensuring
that the Bank had equivalently high levels of managerial competence in country, regional and
technical areas. Third, despite the acknowledged high levels of stress inflicted on staff by the need
to simultaneously undertake reorganization, “a strategic staffing review,” and a cost control
exercise, these actions were required to make the institution more effective and relevant. Yes,
change is painful, and it should be minimized and compensated for, but it would be wrong to
avoid needed change if the cost were institutional ineffectiveness. He noted that despite the stress,
and despite the fact that at points in the last years some staff were unclear as to their roles and to
Following the talk, Mr. Peters furnished some additional information on IBRD financing: “The Bank did
broaden its menu of IBRD loan maturities and enhanced its lending headroom through the Margins for
Maneuver effort. The Expenditure Review also rechanneled $400 million from operating costs to the balance
sheet for lending through a mix of efficiency gains and tighter management policies. With these steps the Bank
is on a course to rebalance the situation by FY 18.”
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Special Presentation
March 2016
whom they reported, the output of the Bank was record-breaking (outside a crisis year) in the last
FY: $23.5 billion committed from IBRD and $19 Billion for IDA. Mr. Peters expressed his esteem
for the skills, dynamism and dedication of the vast majority of Bank staff.
A flood of comments and questions followed. Many dealt with the nature and approach of the
realignment. Why the haste? Do not the recent losses of so many experienced staff indicate that
something was seriously misperceived? What is being done to offset this brain drain? Why does
every new Bank president feel the need to reorganize, restructure or realign? Why does the Bank
approach change in such a sporadic and convulsive manner? Should it not be a permanent,
unfolding process as in the better private sector firms?
I summarize Mr. Peters’ several responses as follows: The Bank has 1600 operations in its
portfolio. It manages 400 projects a year. It undertakes an additional 1800 knowledge products a
year. In terms of overall governance it is “more of a cooperative than a hierarchical firm.” Prior
to the realignment, it was organized in regional and country units, with global agenda managed by
a set of “Networks.” Problems of sharing knowledge and applying technical expertise in the right
place, at the right time, were evident and serious.
The first phase of the recent reform effort instituted 14 Global Practice groups, which then were
to interact with 44 country departments. This process rapidly produced extremely high transaction
costs. Moreover, as the GP groups moved from the setting-up to the working stage, it was found
that several of them needed a “different type of leadership with line management authority to
focus on client and technical issues.” Three Global Practice VPs, all with deep operational
experience, have been appointed; they will direct the interaction of GP staff with the six regional
VPs. In theory, this simplifies the 14 x 44 matrix to a 3 x 6 format. And yes, the costs to staff of
all these efforts have been high, as with any reorganization, but our intentions are the best; the
goal is to enhance the relevance and the impact of the institution.
Questions on some more specific issues followed. For example, Millard Long noted that ex-post
evaluations of Bank assistance during crisis periods concluded that large sums went to countries
that, it turned out, had minimal if any need for them. He asked, has the Bank learned to better
handle counter-cyclical lending? Mr. Peters answered that it is hard to determine ex ante a country’s
appropriate level of financial need. At the onset of financial crises, in the face of virtually “locked
up” capital markets, at least initially neither the countries nor the IFIs were sure of the situation
or the way in which markets will regard a country’s degree of vulnerability. Since the issue in crises
is often one of confidence of the markets, finance ministers tend to request funds in anticipation
of need, as a form of insurance against potential attack.4
Mr. Long also asked, has the Bank tilted too much towards issues of financial inclusion (the subject
of our Chapter’s previous session), and allowed the depletion of its skills in broader financial
sector concerns? Mr. Peters acknowledged that this might be the case, and that some rebalancing
might be in order. Later in the discussion he noted the dilemma of trying to prioritize: On the one
hand, there is an appeal to reducing activities in order to apply the institution’s limited personnel
This is similar to what Gary Perlin told the chapter in his presentation to our chapter (May 23, 2014),
concerning how and why the private bank he then helped manage, Capital One, over-packed its balance sheet
at the beginning of the US financial crisis.
Page 34
Special Presentation
March 2016
and financial resources on key concerns; on the other, there is a never-ending call to address
additional issues of socio-economic concern. Moreover, as in the case of broad financial sector
issues, when the Bank does cut back on a particular skill set, it often finds that exiting that field
was a mistake.
Prem Garg noted the increase in disbursements but wondered about the impact and outcomes
of the expanded operations, particularly in light of the departure of experienced personnel. Mr.
Peters admitted that quality “has been a bit low,” although there has been a very recent uptick in
positive assessments. He later noted the continuation of the long-standing disconnect, in the 25
percent range, between project ISR scores and ex post formal evaluations. He said the need is for
assessments of operations at the design and early implementation stages, not at completion, to
allow for the construction of corrective measures. (Nobody then asked Mr. Peters, was not this
early-on review exactly what the disbanded QAG was supposed to be doing? With what has that
unit been replaced?)
Johannes Lynn asked, to what extent has the Bank taken into account the recommendations
made by The 1818 Society at the time President Kim was appointed? Mr. Peters said that he had
already responded to some of the issues the Society representatives raised, particularly regarding
the new organization and the need to hire highly qualified staff.
Finally, several people asked whether the efforts of the realignment were not simply reinventions
of past initiatives? Are not the Global Practice Groups remodeled Networks? Are not
Development Policy Loans renamed Structural Adjustment operations? Mr. Peters admitted some
similarities but stressed the major differences: The old structures, he said, separated the technical
staff – in energy, for example – working in country operations from the ones doing global
advocacy work on clean energy. The new structure brings those two groups together; they make
it easier for technical staff to be deployed across regions and countries where they are most
needed. Regarding DPLs, they reflect a shift in approach to greater consultation with the clients.
DPLs support client-driven reforms, not ones prescribed by Washington.
Mr. Peters’ candor, sincerity, and mastery of the intricacies of the Bank’s policies and working
environment were all in evidence. He is working hard, in a managerially difficult, most complex
multi-national, multi-objective, multi-faceted organization, to ensure that the World Bank Group
weathers the present storm and reassumes its role as a—if not the—leading international
organization dealing with socio-economic development.
This will not be an easy task. The day following his presentation came the announcement of the
departure of two key World Bank Group Vice Presidents, CFO Bertrand Badré and IFC Executive
VP Jin-Yong Cai (both of whom made presentations to our chapter5). Mr. Peters’ difficult job just
got harder.
John Nellis
November 12, 2015
Mr. Badré on May 9, 2014, and Mr. Cai on November 7, 2014.
January 9, 2016 marked the 60th anniversary of the official opening of the Economic Development Institute
(now the World Bank Institute) in a house at 1620 Belmont Street, NW, that belonged to the wife of Eugene
Meyer, the World Bank's first President, and which was also used by the Embassy of the Netherlands for a time.
In those 60 years the Institute has undergone considerable evolution, but it is instructive to learn of how the
concept of the Institute was viewed by its founders. This article from the October 1955 issue of "International
Bank Notes" sheds some light on the subject.
by Patterson H. French
Early next January, fifteen men and one woman from sixteen different countries will assemble at
1620 Belmont Street, N. W., and the Bank's Economic Development Institute will become an
accomplished fact. Already three of the four faculty members are on the job, the building has been
leased, and (according to the faculty members) plans for the various courses and seminars are
taking shape. The Bank has issued a nicely printed booklet describing the Institute, called, of
course, not a “Bulletin” or a “Calendar” but in true bankers' vernacular, a “Prospectus.”
The Institute is called in this prospectus a “staff-college” operated by the Bank for senior
government officials of its member countries who hold important economic posts in
underdeveloped areas." While it will be a center for study and training in economic development
problems, it will not be a school in the usual sense. The participants will be mature people who
have struggled with problems of economic development in their own countries. The Institute will
expect to rely heavily on the interchange of experience through discussion either between the
participants themselves or with the staff of the Bank, sifting that experience in seminars to find
out what general conclusions can be drawn and what lessons for the future can be learned.
Incidentally, the question whether the Institute is a school or is not a school figured prominently
in determining whether it would be housed at the Belmont Street location or whether it would
remain homeless indefinitely. After months of searching for quarters where the group could live
and work the present building was found, a large former residence which had also been at one
time the Netherlands Embassy. Then began prolonged negotiations over occupancy and zoning
permits. To meet the District of Columbia zoning regulations it had to be established that the
Institute was not a "school," and in the process it was very nearly ruled that it should be classed
as "religious institution." This view, in the words of George Unwin, the historian, is "educative
but fallacious." The faculty members maintain stoutly that they will not propagate a ready-made
gospel; they even go so far as to maintain that the Bank has no such gospel.
As to the financing of the Institute, a contribution to the cost of the Institute will be made by the
government concerned in respect of each candidate selected. Also, the Ford and Rockefeller
Foundations have made grants to cover a part of the Institute's expenses. The Bank will meet the
remaining costs.
Page 36
Special Historical Supplement
March 2016
The first class of sixteen will be in residence for six months. Many of them are already thoroughly
trained in economics and have taken degrees at Harvard, U.C.L.A., the University of London and
elsewhere. They are officials of central banks, planning offices, development boards, and
ministries dealing with economic and financial matters. One is the first Nigerian to hold the rank
of department head; another is a State Counsellor from Yugoslavia. One is a woman: she comes
from the Philippines and is Coordinator of Investments, and Technical Assistant to the Governor
of the Central Bank.
All of those taking part have been nominated by their governments. For the present, only the
nominees of the governments of underdeveloped countries or colonial territories are being treated
as eligible, but other governments and government agencies (including U.S. agencies) have shown
a keen interest. Some private persons, hearing of the new Institute with equal enthusiasm applied
either for posts on the staff or for admission as students. The would-be students included an
airline pilot from Ecuador and a Spanish engineer. A Chicago advertising agency wrote to suggest
that a deal might be concluded "to the mutual advantage of both parties!
The work will include seminars, group meetings, special talks by guest speakers, and field trips.
The seminars, which represent the backbone of the course, will fall into one of three groups. They
will either be general and deal with the development of the whole of an economy, discussing the
purpose of such development, how it can be measured, how economies have gained momentum
in the past, and the factors that played a strategic part in the process; or they will deal with policies
that exercise a wide influence over the whole economy such as monetary, fiscal or investment
policy; or they will be limited to single sectors of the economy and to the policies by which the
development of a given sector might be encouraged. The point of departure will thus move from
the whole to the parts, from general forces to concrete and particular situations. It is on the
working out of the curriculum that the staff of the Institute is now engaged.
Director of the Institute is Professor A. K. Cairncross, who joined the Bank in July on leave of
absence from the University of Glasgow, Scotland, where he is Professor of Applied Economics
and Director of the Department of Social and Economic Research. Two of the faculty members,
John Adler and William Diamond, have been drawn from the Bank's regular staff and a fourth
member is still to be named.
Although the Institute has its own headquarters and its own teaching staff, it will not be left in
academic seclusion on Belmont Street. It has been located in Washington so that those taking part
can draw on the accumulated experience of the Bank through personal contact with its staff. There
will be frequent occasions when members of the staff are invited to give talks at Belmont Street
or join in the seminars and many other occasions when they are approached by individual
participants for advice on some concrete problem. These exchanges will by no means be onesided, for economic development is something about which everyone has still much to learn. The
Institute can help both the participants in its courses and the Bank itself if it pinpoints the key
elements in successful development. But it can do both things only if it is treated as an integral
part of the Bank; this is how it was planned and this is how it will be expected to operate.
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, use the link or go to The Society’s website and click on the
member’s area (blog) in the quick links box. Look for In Memoriam, scroll all the way down, and post the
message in the comment section. Your information will appear as the first item on the page.
Raquel Astorga, 89, of McLean, VA, on January 12, 2016. She was the surviving spouse of retiree Mr.
Luis Astorga.
Lydia Maria Ballard, 67, of Bethesda, MD, on October 21, 2015. She was the spouse of Mr. Paul
Aroon Basak, 93, of Bethesda, MD, on February 6, 2016. Mr. Basak retired from the Bank Group in
Pamela Bigart, 67, of McLean, VA, on January 6, 2016. Ms. Bigart retired from the Bank Group in
Marie-France Buphomene, 95, of France, on January 21, 2015. She was the surviving spouse of Mr.
Yves Buphomene.
Arturo Clares, 77, of Washington, DC, on December 6, 2015. He was the spouse of Mrs. Maria CastroMunoz.
Carolyn Collins, 72, of Fredericksburg, VA, on February 7, 2016. Ms. Collins retired from the Bank
Group in 1997.
Glenda P Cunningham, 70, of Silver Spring, MD, on January 9, 2016. She was the spouse of Mr. John
J Cunningham.
Paul Danquah, 90, of Tangier, Morocco, on August 13, 2015. Mr. Danquah retired from the Bank
Group in 1983.
B. Henry De Zoysa, 93, Colombo, Sri Lanka, on November 25, 2015. Mr. De Zoysa retired from the
Bank Group in 1982.
Robert Jerome Esmay, 72, of Eugene, OR, on December 28, 2015. Mr. Esmay retired from the Bank
Group in 2005.
Margaret Gabriel, 86, of Washington, DC, on February 14, 2016. She was the surviving spouse of Mr.
K. Georg Gabriel.
Page 38
In Memoriam
March 2016
Sandra Granzow, 76, of New York, NY, on November 19, 2015. She was the spouse of retiree Mr.
James Kearns.
Baxter Gray, 79, of Coral Springs, FL, on December 18, 2015. Mr. Gray retired from the Bank Group
in 1991.
Merlyn Hunger, 75, of Saratoga Springs, UT, on July 12, 2015. Ms. Hunger retired from the Bank Group
in 1997.
Irma Iriarte, 85, of Annandale, VA, on December 4, 2015. Ms. Iriarte retired from the Bank Group in
James H. Jennings, 86, of Bethesda, MD, on October 10, 2015. Mr. Jennings retired from the Bank
Group in 1991.
George A. Kalauzi, 92, of Hifissia, Athens, on December 11, 2015. Mr. Kalauzi retired from the Bank
Group in 1985.
Gunther Koenig, 82, of Bethesda, MD, on November 19, 2015. Mr. Koenig retired from the Bank
Group in 1988.
Gerard L. Liautaud, 80, of Cannes, France, on January 20, 2016. Mr. Liautaud retired from the Bank
Group in 1999.
Nevine Madkour, 71, of Alexandria, VA, on August 22, 2015. She was the spouse of retiree Mr. M.
Ismail Serageldin.
Casimiro M. Mangoba, 91, of Ashburn, VA, on November 25, 2015. He was the spouse of retiree Ms.
Gloria B. Mangoba.
Charles G. Mclaughlin, 76, of Youngsville, NC, on January 31, 2016. He was the spouse of Mrs. Linda
Jean McLaughlin.
Robert W. McMeekin, 78, of Santiago, Chile, on January 22, 2016. Mr. McMeekin retired from the
Bank Group in 1993.
Giuseppe A. Morra, 89, of Washington, DC, on January 30, 2016. Mr. Morra retired from the Bank
Group in 1988.
Joaquin Muns, 80, of Barcelona, Spain, on November 2, 2015. Mr. Muns retired from the Bank Group
in 1982.
Fernando Murias, 80, of Rockville, MD, on January 7, 2016. Mr. Murias retired from the Bank Group
in 1990.
Page 39
In Memoriam
March 2016
Frank Mwine, 73, of Los Angeles, CA, on February 23, 2016. Mr. Mwine retired from the Bank Group
in 1991.
Florence M. O'Brien, 91, of Chambersburg, PA, on January 10, 2016. Ms. O'Brien retired from the
Bank Group in 1986.
Mario Parreaguirre, 88, of Bethesda, MD, on December 27, 2015. Mr. Parreaguirre retired from the
Bank Group in 1988.
Gregory Plant, 87, of Manasquan, NJ, on December 16, 2015. Mr. Plant retired from the Bank Group
in 1990.
Gita Rao, 74, of Rockville, MD, on October 9, 2015. She was the spouse of retiree Mr. D. C. Rao.
Ramon Rouco, 81, of Rockville, MD, on November 24, 2015. Mr. Rouco retired from the Bank Group
in 1987.
Elizabeth Schaper, 76, of Mobile, AL, on November 25, 2015. Ms. Schaper retired from the Bank
Group in 1998.
Gerard Seymour Schokman, 87, of Kinross, WA, on January 24, 2016. Mr. Schokman retired from the
Bank Group in 1990.
Loredana Sciolli, 80, of Rome, Italy, on January 23, 2016. She was the surviving spouse of retiree Mr.
Gabriel Sciolli.
Fannie B. Sonley, 91, of Warrenton, VA, on November 17, 2015. She was the spouse of Mr. Sonley.
Safia Hassan M. Taha, 93, of Egypt, on December 6, 2015. She was the surviving spouse of Mr. Aladin
Alix Tenaille, 85, of Paris, France, on January 1, 2016. She was the surviving spouse of retiree Mr.
Gerard R. L. Tenaille.
John H. Thompson, 72, of Plymouth, UK, on January 19, 2016. Mr. Thompson retired from the Bank
Group in 1995.
Gesina B. Threlkeld, 95, of Las Cruces, NM, on December 1, 2015. She was the surviving spouse of
Mr. Aladin Fateen.
Rosita Maria Van Meel, 60, of Belgium, on December 15, 2015. Ms. Van Meel retired from the Bank
Group in 2012.
Albertus Wildenburg, 93, of Sarasota, FL, on December 3, 2015. He was the surviving spouse of Ms.
Beryl Wildenburg.
Responsibility Matrix
Board of Directors
Inder Sud (President and Chair)
Anis Dani
Carlos Escudero
Christine Wallich
Damian von Stauffenberg
Eugene McCarthy
Hadi Abushakra
Ines Garcia
Lesley Shneier
Nadereh Chamlou
Pauline Ramprasad
J. Shivakumar (Honorary Member)
Sverrir Sigurdsson
Jeffrey Katz , Adrienne Guerrero
Health Insurance
Nadereh Chamlou(Chair), Deane Jordan(Alternate member for PFC and
PBAC), Ismail Dalla, Javed Hamid(PFC Member), Jeffrey Katz, Kenneth
Lay, Scott B White Esq, Toshie Kabuto,
Ines Garcia (Chair), Alan Siff, Carlos Escudero, Dileep Wagle, Ian Bannon,
Jim Harrison, Kabir Ahmed (Mentor), Larry Hinkle, Lorraine Nagy, Pat
King, Pat Neill, Raja Aiyer, Richard Stange,
Tax Seminars
Deane Jordan
Credit Union
Davinder Sakhuja
Member Helping
Kahlid Siraj (Chair), Paula Donovan
Bulletin Editor
Chuck Ziegler
Cultural Events
Farida Dossani
Int. Retiree Organization
Lesley Shneier
Member Remembrances
Frona Hall
Active LifestylesZ
Hiking Club
Anis Dani
Davinder Sakuja
International Trips
Miren Fernandez
Retirement Communities
Pauline Ramprasad