Dick Lugar

We can ill afford to continue to read reports of inadequate monitoring and evaluation controls.

Sometimes controversies of this variety lead to disruptions at higher levels, as leaders of various countries who either feel embarrassed or put upon by these situations are going to respond to our Secretary of State or others.

So you have had to conduct a very careful study literally of each individual country as a component of a larger group that would be borrowing from the banks and you have also considered where the banks started with the capital levels.

I joined then-Senator Biden, Senator Leahy, Senator Bayh, and others in asking the Government Accountability Office to conduct a review of the World Bank regarding its ability to fight corruption.

Well, I appreciate your thoughtful answers. This is a subject, as you pointed out, that was addressed in our extensive report.

I think this Bank will certainly be much stronger with full U.S. support for a general capital increase.

Well, I thank you on behalf of our chairman and the committee for your testimony, for your carefully prepared statements, as well as the statements you have delivered here and your responses to our questions.

As we discussed briefly during the hearing, a few years ago, the Government Accountability Office was tasked by myself, Senators Biden, Leahy, and Bayh to conduct review of the World Bank regarding its ability to fight corruption and…

Thank you, Mr. Chairman.

the reprogramming of some $2 billion in assistance to Pakistan actually provides an opportunity to push this issue even further forward.

The G20 has called for changes to the selection process for the leadership of the International Monetary Fund and World Bank and for more representation of emerging markets in these institutions.

I presume a majority of the shareholders share the desire to make these loans to Afghanistan and Pakistan in the midst of warfare or certainly conflict in which there could be some disagreements or debates over American policy or the…

I think that the borrowing countries want to work with the Asian Development Bank--these are apolitical institutions.

Indeed, the United States has very much championed human resources reform at this institution.

Well, I join Chairman Kerry in congratulations to you on your service.

China's rising financial and strategic power is a crucial factor in our approach to global problems generally.

it can be improved significantly.

Well, that is very helpful.

Should leadership of regional banks not likewise be discussed?

One of the effects of our hearings on these issues, which began 7 years ago, is that many times the press in various nations that were being discussed in the hearings learned about loans for the first time.

Do other countries monitor operations in the same way that the United States does?

the relationship with China is no longer one of borrowing, but one of the knowledge that they can benefit from by engaging with the Bank.

The current global financial crisis led to an increase in lending at the MDBs across the board...

Let me ask you, Executive Director Solomon, one additional question.

I would argue that Afghanistan is one of the biggest success stories for actually the ADB in its coordination with the United States.