World Bank urges rich countries to cut trade barriers, boost aid; Developing country reforms also crucial to poverty reduction.

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M2 PRESSWIRE-26 May 2003-WORLD BANK: World Bank urges rich countries to cut trade barriers, boost aid; Developing country reforms also crucial to poverty reduction(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:05222003 Bangalore, India - Rich countries should back their pledges to help reduce global poverty by removing barriers to developing country exports and increasing aid, according to World Bank chief economist Nicholas Stern.

For their part, developing countries need to continue to strengthen governance, invest in and empower poor people, and improve the investment climate, especially the conditions facing small farmers and entrepreneurs, he said. Stern was speaking at the Annual Bank Conference on Development Economics or ABCDE, one of the world's leading...