TEXT E

　　First read the question.
　　31. The primary purpose of the letter is to ___.
　　A. illustrate the World Bank’s efforts in poverty-relief programmes
　　B. call for further efforts by nations in sustainable development
　　C. provide evidence for the World Bank’s aid to the private sectors
　　D. clear up some misunderstanding about the World Bank

　　Now go through TEXT E quickly to answer question 31.
　　August 18th 199
　　Dear Sir,
　　In your July 28th article you noted that the Bank’s own internal analysis rated one third of the projects completed in 1991 as unsatisfactory. But that statement fails to take account of the Bank’s criteria for ‘success’, which are exceptionally strict. For instance, before a project can be considered successful, it must have at least a 10% rate of return. This rate is far higher than the minimum demanded by many bilateral aid donors, many of which require a return of only 5% or 6%. Thus, projects rated unsatisfactory under the Bank’s standards still yield many benefits.
　　You imply that, because it deals mainly with governments, the Bank does not sufficiently support private sector development. Here are the facts. The World
　　Bank has:
　　supported reforms in mere than 80 countries aimed at opening up trade, making prices realistic and dismantling state monopolies which stifle individual enterprise invested in infrastructure to facilitate business activity; assisted and advised over 200 privatization-related operations involving nearly US $ 25 billion in loans; provided mere than US $ 12 billion through an affiliate, the International Finance Corp. over the last 30 years to mere than 1,000 private companies in the dev eloping world; and through another affiliate, the Multi lateral Investment Guarantee Agency, offered insurance against non-commercial risk to encourage foreign investment in poor countries.
　　The record shows that, over the past generation, more progress has been mad e in reducing poverty and raising living standards than during any other comparable period in history. In the developing countries: life expectancy has been increased from 40 to 63 years; infant mortality has been reduced by 50% ;and per capita income has doubled.
　　The World Bank consistently stresses that most of the credit for these advances should go to the countries themselves. Nevertheless, the Bank and organizations with which it collaborates-bilateral and international agencies and non-governmental organizations-have played a valuable role in this progress. In the future the Bank will continue to do its utmost to support its member countries in t heir efforts to achieve sustainable development.
　　(LEANDRO V. CORONEL
　　Public Affairs
　　The Worm Bank
　　Washington)