22 April 2006
The commission's goal is to produce a greater understanding of economic growth for development and poverty reduction.
World Bank president Paul Wolfowitz used the opening of the World Bank and IMF spring meetings to unveil plans for an independent commission. The Commission on Growth and Development will be a two year project that will attempt to better undertand ways of closing the income gap in developing countries while promoting sustainable growth programs and policies.
Mr. Wolfowitz, the William and Flora Hewlett Foundation, along with the Swedish, Dutch and UK government have all announced their support for the commission. Michael Spence, Professor Emeritus, Stanford, Chair of the Growth Commission, former Dean of Stanford Graduate Business School and Nobel laureate will lead this initiative along with a geographically diverse group of individuals who specialize in international development.