World Bank Accepts Norway’s Plan to Target Tax Havens

On September 5, 2007, World Bank President Robert Zoellick accepted Norway’s plan to study and target the harmful effects of offshore tax havens on the funding of international development and its impact on the functioning of the global financial system. Zoellick’s letter to Norway’s Minister of International Development Erik Solheim said that “study of the development impact of off-shore financial centers would be a valuable contribution to the governance and anti-corruption agenda,” and that the Bank would be pleased to collaborate with Norway on taking the process forward...[more]