Abstract:
The World Bank plays an important role in rural development in different countries. Rural development strategies for different countries are prepared by the Agriculture and Rural Development Department (ARD), of the World Bank. The strategy of "Reaching the Rural Poor" was formulated in 2000. Emphasis has been given on agriculture for ensuring rural development. Gender issues have been identified to be of major importance in rural development by the World Bank.
The World Bank plays an important role in rural development especially in the third world countries. Important initiatives have been undertaken by the World Bank in drawing up specific plans for rural development in many countries. Efforts have been undertaken to bring down the global levels of rural poverty and hunger to half its current levels by 2015. The World Bank notes 75% of the total poor people in the world reside in rural areas. Rural development has also been identifies as a key precondition to a country's overall economic growth and social development.
A separate department, named, Agriculture and Rural Development Department (ARD), functions under the World Bank, to specifically look into the issues of rural development around the globe. The Agriculture and Rural Development Department formulates rural strategies for different countries in consultation with the authorities of the concerned countries. Rural development strategies are re-evaluated and if necessary reformulated after an interval of five years. The rural developed strategy drawn up in 2000, by the ARD that was endorsed by the World Bank in October 2002 and published in 2003 was titled "Reaching the Rural Poor". This strategy focused on improving the productivity of the environmental and social assets of the rural poor.
The World Development Report released by the World Bank in 2008 lays emphasis on the growth of agriculture for rural development and overall economic development. Important findings of this report are -
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Income of the rural poor is more effectively increased by GDP growth in the agrarian sector than in other sectors.
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An average of only 4% of development funds are invested in agriculture. This must be increased to ensure rural development.
The Rural Development Strategy of World Bank identifies gender as a major issue in rural development. Women, it has been observed, play a major role in economic activities of rural families. Moreover women comprise of about 70% of the rural poor globally. Reduction of gender disparities has been identified as being instrumental to rural development by the World Bank.