Addressing the closed door session of the World Bank’s development committee.Dr. Singh said to enhance developing countries’ ability to repay debts required determined domestic action to improve the efficiency of resource use as well as complementary international action to create a more favourable external environment.
Basic structural reforms to increase the productivity of investible resources,greater access to industrial country markets for exports by developing countries,increasing international cooperation and technology transfer for improvements in productivity were some of the actions that must take place simultaneously, he said.
HRD:Turning to human resource development(HRD),he suggested that the committee set global time bound targets backed by real resources,for providing minimum facilities for clean drinking water and primary education for all in the developing and other needy countries.To implement this action they would have to draw upon both internal and external resources,Dr, Singh said.