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| [00:07.08]The World Bank recently held a two-day competition as part of its Development Marketplace event. [00:15.73]The event was held at the World Bank headquarters in Washington, D.C. [00:22.62]Competitors presented ideas for new businesses designed to reduce poor conditions in developing countries. [00:32.84]The World Bank received more than 2,000 proposals. [00:38.92]The bank chose three hundred projects to be presented at the Development Marketplace later this month. [00:48.20]World Bank President James Wolfensohn said the competition is about the future of development. [00:56.71]He said it also is about making things happen now. [01:02.54]Mister Wolfensohn said people must act now to prevent an increase in poverty [01:10.35]along with the world's increasing population. [01:14.63]More than 700 international organizations from more than sixty countries took part in the competition. [01:25.24]They included governments, development banks, private groups and educational organizations. [01:34.04]Experts judged theproposals on their effect on poverty,their creativity, [01:42.27]and their costs compared to possible profits. [01:46.14]Judges also looked for businesses that could be owned by communities [01:52.69]that would most gain from the product or service. [01:56.53]Forty-four projects won prizes at the Development Marketplace competition. [02:03.27]They won between 27,000 dollars and 380,000 dollars. [02:10.82]The World Bank gave a total of 5,000,000 dollars in prizes. [02:17.35]One of the winners was a plan to end the cutting of female sexual organs in African countries. [02:25.89]This traditional operation often leads to serious health problems. [02:33.94]However, the people who perform these operations are considered very important and have much influence in their communities. [02:45.25]The proposal called for giving these people business training. [02:51.68]This way they could establish other small businesses instead of performing female circumcisions. [02:59.59]Another winning project was a low-cost way for people to purify water. [03:06.17]A project to put libraries on the Internet also won an award. [03:12.31]And a project to help communities learn to protect their environment also won an award |
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