World Bank Group Timeline
President McNamara delivers historic Nairobi speech
In his speech to the Board of Governors at the 1973 Annual General Meeting in Nairobi, Kenya, President McNamara describes how 800 million people live in “absolute poverty” and warns that official development assistance is inadequate. He proposes a strategy for rural development with an emphasis on productivity of small holder agriculture. In the five years immediately following this speech, World Bank Group financing of development efforts will increase by over 40%.
Resource Gallery
President McNamara and radio journalist Sammy Lui
August 6, 1973
President McNamara meets with Lui and two other African journalists in advance of the annual meetings (1894102; Credit: The World Bank).
President McNamara addresses the Boards of Governors
September 1973
During his speech, President McNamara discusses "absolute poverty" and presents the World Bank Group's strategy for rural development (1894069; Credit: The World Bank).
Annual Meetings 1973, Nairobi, Kenya
Originally published: August 2005
The exhibit focuses on the problems of the rural poor in developing countries as described by President McNamara during the 1973 annual meetings.
Interview with Mahbub ul Haq
Interview date: Dec. 3, 1982
ul-Haq discusses absolute poverty on page 20.
President McNamara address to the Boards of Governors
Sept. 24, 1973
President McNamara addresses the World Bank and IMF Boards of Governors in Nairobi, Kenya (run time 45:12).
Memorandum for the Record -- Implementing 1973 annual meeting speech
Dec. 3, 1973
The memorandum summarizes President McNamara's reaction to progress in the implementation of his speech at the Annual Meetings in Nairobi (1771494).
Annual Meetings of the Boards of Governors, 1973: Summary Proceedings
Document date: Sept. 28, 1973
President McNamara defines relative poverty and absolute poverty in his speech to the Board of Governors.
